NewEdge Wealth LLC Sells 277 Shares of Intuit Inc. (NASDAQ:INTU)

NewEdge Wealth LLC lowered its position in Intuit Inc. (NASDAQ:INTU) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 10,493 shares of the software maker’s stock after selling 277 shares during the quarter. NewEdge Wealth LLC’s holdings in Intuit were worth $6,595,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the fourth quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the fourth quarter worth approximately $29,000. Finally, Denver PWM LLC purchased a new position in shares of Intuit during the third quarter worth approximately $32,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Oppenheimer lifted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, 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 report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $717.88.

Intuit Trading Down 4.0 %

NASDAQ INTU opened at $600.42 on Friday. The company has a market capitalization of $168.07 billion, a PE ratio of 58.29, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a fifty day moving average of $606.49 and a 200 day moving average of $627.35. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. 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%.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. 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. Company insiders own 2.68% of the company’s stock.

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.