PDS Planning Inc Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

PDS Planning Inc reduced its stake in Intuit Inc. (NASDAQ:INTU) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,235 shares of the software maker’s stock after selling 42 shares during the quarter. PDS Planning Inc’s holdings in Intuit were worth $776,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent analyst reports. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday, February 26th. Finally, Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Performance

Intuit stock opened at $602.11 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a fifty day moving average of $597.76 and a two-hundred day moving average of $623.51. The company has a market capitalization of $168.33 billion, a price-to-earnings ratio of 58.46, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Insider Activity

In other news, insider Scott D. Cook sold 6,446 shares of Intuit 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 sale, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,301 shares of company stock valued at $121,470,200 over the last quarter. Company insiders own 2.68% of the company’s stock.

About Intuit

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.