LGT Capital Partners LTD. Sells 79,450 Shares of Intuit Inc. (NASDAQ:INTU)

LGT Capital Partners LTD. decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 46.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,416 shares of the software maker’s stock after selling 79,450 shares during the period. Intuit comprises 2.2% of LGT Capital Partners LTD.’s portfolio, making the stock its 17th biggest holding. LGT Capital Partners LTD.’s holdings in Intuit were worth $57,455,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Brown Financial Advisors increased its holdings in shares of Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after buying an additional 15 shares in the last quarter. Truvestments Capital LLC increased its holdings in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after buying an additional 16 shares in the last quarter. True North Advisors LLC increased its holdings in shares of Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after buying an additional 17 shares in the last quarter. Great Diamond Partners LLC increased its holdings in shares of Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after buying an additional 17 shares in the last quarter. Finally, Kovack Advisors Inc. increased its holdings in shares of Intuit by 4.8% during the third quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock worth $244,000 after buying an additional 18 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on INTU. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Citigroup lowered their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and raised their price target for the company from $640.00 to $660.00 in a report on Wednesday. Mizuho raised their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, BMO Capital Markets lowered their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $721.61.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the transaction, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,811 shares of company stock valued at $142,391,012 over the last three months. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

INTU opened at $609.61 on Friday. The company has a fifty day moving average price of $602.28 and a two-hundred day moving average price of $625.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The firm has a market capitalization of $170.42 billion, a PE ratio of 59.19, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio is 38.81%.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.