Claret Asset Management Corp Sells 38 Shares of Intuit Inc. (NASDAQ:INTU)

Claret Asset Management Corp cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 376 shares of the software maker’s stock after selling 38 shares during the period. Claret Asset Management Corp’s holdings in Intuit were worth $236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. R Squared Ltd bought a new stake in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC raised its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the fourth quarter valued at approximately $28,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 0.5 %

Shares of NASDAQ INTU opened at $585.38 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $592.03 and its 200 day simple moving average is $616.49. The firm has a market cap of $163.65 billion, a PE ratio of 56.83, a P/E/G ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Activity

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock worth $14,347,731 over the last quarter. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their price target for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Jefferies Financial Group dropped their price target on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Morgan Stanley dropped their price target on Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $600.00 to $700.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $718.56.

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.