Advisors Asset Management Inc. Sells 1,441 Shares of Intuit Inc. (NASDAQ:INTU)

Advisors Asset Management Inc. cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,593 shares of the software maker’s stock after selling 1,441 shares during the period. Advisors Asset Management Inc.’s holdings in Intuit were worth $11,686,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of INTU. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased 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 valued at $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Intuit in the 4th quarter valued at $29,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was 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. Over the last quarter, insiders sold 189,301 shares of company stock worth $121,470,200. 2.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Oppenheimer boosted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Finally, Mizuho boosted their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Trading Up 0.6 %

NASDAQ INTU opened at $602.11 on Tuesday. The stock has a 50-day simple moving average of $597.76 and a 200 day simple moving average of $623.51. The company has a market capitalization of $168.33 billion, a PE ratio of 58.46, a P/E/G 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. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 yield of 0.69%. Intuit’s dividend 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.