Price T Rowe Associates Inc. MD Sells 28,821 Shares of Intuit Inc. (NASDAQ:INTU)

Price T Rowe Associates Inc. MD decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,369,558 shares of the software maker’s stock after selling 28,821 shares during the quarter. Intuit makes up approximately 0.6% of Price T Rowe Associates Inc. MD’s investment portfolio, making the stock its 22nd biggest position. Price T Rowe Associates Inc. MD’s holdings in Intuit were worth $5,260,268,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Alta Advisers Ltd increased its position in Intuit by 16.0% in the fourth quarter. Alta Advisers Ltd now owns 928 shares of the software maker’s stock worth $583,000 after purchasing an additional 128 shares during the period. Beacon Investment Advisors LLC boosted its stake in shares of Intuit by 0.7% in the 4th quarter. Beacon Investment Advisors LLC now owns 8,232 shares of the software maker’s stock valued at $5,174,000 after purchasing an additional 59 shares during the last quarter. Fayez Sarofim & Co grew its position in shares of Intuit by 8.0% during the 4th quarter. Fayez Sarofim & Co now owns 893,017 shares of the software maker’s stock worth $565,967,000 after buying an additional 66,151 shares during the period. Canal Capital Management LLC raised its stake in shares of Intuit by 2.4% during the fourth quarter. Canal Capital Management LLC now owns 8,183 shares of the software maker’s stock worth $5,143,000 after buying an additional 189 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Intuit by 2.0% in the fourth quarter. Stifel Financial Corp now owns 412,634 shares of the software maker’s stock valued at $259,368,000 after buying an additional 8,089 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock valued at $14,347,731 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

INTU has been the subject of a number of analyst reports. Scotiabank raised shares of Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Morgan Stanley decreased their price objective on Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Piper Sandler reissued an “overweight” rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Jefferies Financial Group reduced their target price on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, BMO Capital Markets lowered their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen 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 an average target price of $718.56.

Intuit Trading Up 2.6 %

NASDAQ INTU opened at $583.56 on Wednesday. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $714.78. 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’s 50 day moving average price is $591.87 and its two-hundred day moving average price is $616.12. The stock has a market capitalization of $163.14 billion, a price-to-earnings ratio of 56.66, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 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.