Ostrum Asset Management Sells 6,258 Shares of Intuit Inc. (NASDAQ:INTU)

Ostrum Asset Management lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,956 shares of the software maker’s stock after selling 6,258 shares during the period. Intuit accounts for about 2.3% of Ostrum Asset Management’s investment portfolio, making the stock its 21st biggest holding. Ostrum Asset Management’s holdings in Intuit were worth $26,998,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Invst LLC acquired a new position in Intuit in the 3rd quarter valued at $203,000. Virtu Financial LLC acquired a new stake in shares of Intuit in the third quarter valued at about $7,506,000. Anchor Investment Management LLC grew its position in shares of Intuit by 6.6% in the third quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker’s stock valued at $1,500,000 after purchasing an additional 150 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Intuit in the third quarter worth about $201,000. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of Intuit by 7.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 25,869 shares of the software maker’s stock worth $16,065,000 after purchasing an additional 1,721 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Citigroup dropped their target price 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. BMO Capital Markets reduced 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. Piper Sandler restated an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $718.56.

Intuit Price Performance

Shares of INTU stock opened at $585.38 on Friday. The stock’s fifty day simple moving average is $592.03 and its 200 day simple moving average is $616.49. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78. The firm has a market cap of $163.65 billion, a price-to-earnings ratio of 56.83, a P/E/G ratio of 2.85 and a beta of 1.25. 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 company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Insider Buying and Selling

In related news, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the sale, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at $24,119,224.70. This trade represents a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 in the last quarter. 2.68% of the stock is owned by corporate 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.