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

Envestnet Asset Management Inc. lowered its stake in Intuit Inc. (NASDAQ:INTU) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970,077 shares of the software maker’s stock after selling 1,372 shares during the period. Envestnet Asset Management Inc.’s holdings in Intuit were worth $609,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This trade 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, CFO Sandeep Aujla sold 1,300 shares of Intuit stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the sale, the chief financial officer now owns 644 shares of the company’s stock, valued at $403,414.48. This trade represents a 66.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,862 shares of company stock worth $18,767,673. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of recent analyst reports. Scotiabank decreased their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $718.00.

Intuit Stock Performance

Intuit stock opened at $561.53 on Friday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a market capitalization of $156.98 billion, a price-to-earnings ratio of 54.52, a PEG ratio of 2.85 and a beta of 1.27. The stock has a fifty day moving average of $595.64 and a two-hundred day moving average of $620.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 yield of 0.74%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is presently 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.