Intuit Inc. (NASDAQ:INTU) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 140,891 shares of the software maker’s stock after selling 13,114 shares during the period. Cerity Partners LLC’s holdings in Intuit were worth $88,356,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Financial Advisors grew its stake in Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares during the period. True North Advisors LLC grew its position in shares of Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after purchasing an additional 17 shares during the period. Great Diamond Partners LLC increased its stake in Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after purchasing an additional 17 shares during the last quarter. RB Capital Management LLC lifted its position in Intuit by 0.6% during the third quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock worth $1,968,000 after buying an additional 18 shares during the period. Finally, Pacifica Partners Inc. boosted its stake in Intuit by 27.7% in the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock worth $52,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup cut their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. BMO Capital Markets decreased their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Mizuho upped their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. One investment 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $718.00.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,862 shares of company stock valued at $18,767,673 in the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Stock Down 6.2 %

Shares of NASDAQ:INTU opened at $561.53 on Monday. The company has a market capitalization of $156.98 billion, a price-to-earnings ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a 50 day moving average of $595.64 and a two-hundred day moving average of $620.70. Intuit Inc. has a 52-week low of $533.55 and a 52-week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 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.