Anchor Investment Management LLC Sells 27 Shares of Intuit Inc. (NASDAQ:INTU)

Anchor Investment Management LLC lessened its position in Intuit Inc. (NASDAQ:INTU) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,388 shares of the software maker’s stock after selling 27 shares during the period. Anchor Investment Management LLC’s holdings in Intuit were worth $1,501,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in INTU. Rossby Financial LCC bought a new stake in shares of Intuit during the fourth quarter worth $507,000. LTS One Management LP lifted its position in Intuit by 10.5% during the 4th quarter. LTS One Management LP now owns 31,500 shares of the software maker’s stock worth $19,798,000 after buying an additional 3,000 shares in the last quarter. Chiron Investment Management LLC bought a new stake in Intuit during the 4th quarter worth about $3,939,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Intuit in the 4th quarter valued at about $19,873,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Intuit in the fourth quarter worth about $13,708,000. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Mizuho upped their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group cut their target price on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $713.56.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were 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 approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 over the last 90 days. 2.68% of the stock is owned by company insiders.

Intuit Price Performance

INTU opened at $594.08 on Wednesday. The stock has a market cap of $166.08 billion, a P/E ratio of 57.68, a P/E/G ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12 month low of $532.65 and a 12 month 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. The company has a fifty day simple moving average of $591.89 and a 200 day simple moving average of $617.08.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date 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.