QRG Capital Management Inc. Sells 11,192 Shares of Intuit Inc. (NASDAQ:INTU)

QRG Capital Management Inc. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 31.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,829 shares of the software maker’s stock after selling 11,192 shares during the quarter. QRG Capital Management Inc.’s holdings in Intuit were worth $15,605,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $29,000. Finally, Denver PWM LLC acquired a new stake in shares of Intuit during the 3rd quarter worth approximately $32,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on INTU shares. BNP Paribas lowered shares of 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. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Citigroup cut 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. BMO Capital Markets cut their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $717.88.

Insider Activity

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock worth $140,855,687 over the last three months. 2.68% of the stock is currently owned by insiders.

Intuit Trading Down 4.0 %

INTU opened at $600.42 on Friday. Intuit Inc. has a 1-year low of $553.24 and a 1-year 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 cap of $168.07 billion, a P/E ratio of 58.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a fifty day moving average price of $606.49 and a two-hundred day moving average price of $627.35.

Intuit Announces Dividend

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

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.