Intuit Inc. (NASDAQ:INTU) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 27,498 shares of the software maker’s stock after selling 270 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Intuit were worth $17,282,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INTU. Brown Financial Advisors increased its holdings in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 15 shares in the last quarter. Truvestments Capital LLC grew its position in Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after buying an additional 16 shares during the period. True North Advisors LLC increased its holdings in Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after buying an additional 17 shares in the last quarter. Great Diamond Partners LLC lifted its position in shares of Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after acquiring an additional 17 shares during the period. Finally, Prospera Financial Services Inc boosted its stake in shares of Intuit by 1.8% during the 3rd quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock worth $626,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Intuit stock opened at $598.80 on Monday. 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 $167.40 billion, a price-to-earnings ratio of 58.14, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The firm has a 50 day moving average price of $598.23 and a 200 day moving average price of $623.66.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s payout ratio is 38.81%.

Analyst Ratings Changes

Several research firms recently weighed in on INTU. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. BMO Capital Markets cut 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. Citigroup lowered their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Scotiabank cut their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research report 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,301 shares of company stock worth $121,470,200 in the last ninety days. Insiders own 2.68% of the company’s stock.

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.