Interchange Capital Partners LLC Sells 129 Shares of Intuit Inc. (NASDAQ:INTU)

Interchange Capital Partners LLC lessened its position in Intuit Inc. (NASDAQ:INTU) by 15.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 720 shares of the software maker’s stock after selling 129 shares during the period. Interchange Capital Partners LLC’s holdings in Intuit were worth $454,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Eagle Asset Management Inc. lifted its holdings in Intuit by 20.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 4,649 shares of the software maker’s stock valued at $3,181,000 after purchasing an additional 799 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Intuit by 28.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,576 shares of the software maker’s stock worth $978,000 after buying an additional 353 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Intuit by 1.2% during the 3rd quarter. Penserra Capital Management LLC now owns 2,890 shares of the software maker’s stock worth $1,793,000 after buying an additional 34 shares during the period. Swedbank AB grew its stake in Intuit by 3.5% in the 3rd quarter. Swedbank AB now owns 118,266 shares of the software maker’s stock valued at $73,443,000 after buying an additional 4,035 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in Intuit by 38.2% in the 3rd quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock valued at $186,000 after acquiring an additional 83 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday, February 26th. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Piper Sandler reissued an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. BMO Capital Markets decreased their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,733 shares of company stock worth $77,947,205. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Up 1.5 %

INTU stock opened at $613.09 on Tuesday. The stock has a market capitalization of $171.40 billion, a P/E ratio of 59.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. 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 firm has a 50-day moving average price of $596.08 and a 200-day moving average price of $622.74. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid 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 payout ratio is presently 38.81%.

Intuit 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.