Intuit Inc. (NASDAQ:INTU) Shares Sold by Taurus Asset Management LLC

Taurus Asset Management LLC lessened its position in Intuit Inc. (NASDAQ:INTU) by 1.2% during the fourth quarter, Holdings Channel reports. The fund owned 51,879 shares of the software maker’s stock after selling 640 shares during the quarter. Intuit comprises approximately 3.2% of Taurus Asset Management LLC’s investment portfolio, making the stock its 8th largest position. Taurus Asset Management LLC’s holdings in Intuit were worth $32,606,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Intuit during the 4th quarter worth $2,290,419,000. Proficio Capital Partners LLC grew its position in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP increased its stake in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Intuit during the 4th quarter worth about $300,854,000. Finally, Vanguard Group Inc. lifted its stake in shares of Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after acquiring an additional 353,185 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock valued at $14,347,731. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on INTU shares. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. BMO Capital Markets decreased their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Oppenheimer dropped their price target on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Mizuho raised their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. One research 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $713.56.

Intuit Trading Up 1.7 %

Shares of NASDAQ INTU opened at $587.04 on Friday. 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 one year low of $532.65 and a one year high of $714.78. The business has a 50-day moving average price of $591.70 and a two-hundred day moving average price of $617.55. The firm has a market capitalization of $164.11 billion, a PE ratio of 56.99, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is currently 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.