Intuit Inc. (NASDAQ:INTU) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,228 shares of the software maker’s stock after selling 804 shares during the quarter. Patten & Patten Inc. TN’s holdings in Intuit were worth $11,456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Proficio Capital Partners LLC boosted its position in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Intuit in the 4th quarter worth approximately $300,854,000. Holocene Advisors LP boosted its position in Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB boosted its position in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Finally, Sustainable Growth Advisers LP boosted its position in Intuit by 20.7% in the 4th quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker’s stock worth $898,344,000 after purchasing an additional 245,372 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Finally, Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Activity

In related news, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,301 shares of company stock worth $121,470,200. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of Intuit stock opened at $598.80 on Friday. The business has a 50-day moving average of $598.23 and a 200 day moving average of $623.61. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The stock has a market capitalization of $167.40 billion, a price-to-earnings ratio of 58.14, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is presently 38.81%.

About Intuit

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.