Tocqueville Asset Management L.P. Decreases Stake in Intuit Inc. (NASDAQ:INTU)

Tocqueville Asset Management L.P. lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,056 shares of the software maker’s stock after selling 299 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Intuit were worth $9,463,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of INTU. R Squared Ltd purchased a new stake in shares of Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTU. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Piper Sandler reissued an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Price Performance

Shares of NASDAQ INTU opened at $602.11 on Tuesday. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $168.33 billion, a price-to-earnings ratio of 58.46, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a 50 day simple moving average of $597.76 and a 200-day simple moving average of $623.51.

Intuit Announces Dividend

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 issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Activity

In other 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 value of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,301 shares of company stock worth $121,470,200. 2.68% of the stock is currently owned by insiders.

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.