Intuit Inc. (NASDAQ:INTU) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 31.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 796,134 shares of the software maker’s stock after selling 373,297 shares during the quarter. Alliancebernstein L.P.’s holdings in Intuit were worth $500,370,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. R Squared Ltd purchased a new stake in Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Finally, Summit Securities Group LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on INTU shares. 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 report on Wednesday, February 26th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Scotiabank lowered their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets lowered their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. One equities research 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Down 2.7 %

INTU opened at $598.92 on Monday. Intuit Inc. has a one year low of $553.24 and a one year 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 company has a market cap of $167.44 billion, a P/E ratio of 58.15, a PEG ratio of 2.85 and a beta of 1.27. The business’s 50-day simple moving average is $595.90 and its 200-day simple moving average is $622.23.

Intuit Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Activity

In other news, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at approximately $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 132,896 shares of company stock valued at $82,946,716 in the last ninety days. 2.68% of the stock is currently owned by company insiders.

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.