Sound View Wealth Advisors Group LLC Has $961,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Sound View Wealth Advisors Group LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 63.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,528 shares of the software maker’s stock after selling 2,692 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Intuit were worth $961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in INTU. OFI Invest Asset Management acquired a new stake in shares of Intuit in the fourth quarter worth $3,217,000. Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in Intuit by 0.3% in the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 30,954 shares of the software maker’s stock valued at $19,455,000 after purchasing an additional 87 shares during the period. United Community Bank grew its position in Intuit by 6.0% in the 4th quarter. United Community Bank now owns 355 shares of the software maker’s stock worth $223,000 after purchasing an additional 20 shares during the last quarter. Personal CFO Solutions LLC increased its holdings in shares of Intuit by 56.1% during the 4th quarter. Personal CFO Solutions LLC now owns 2,948 shares of the software maker’s stock worth $1,853,000 after purchasing an additional 1,059 shares during the period. Finally, Dorsey & Whitney Trust CO LLC raised its position in shares of Intuit by 13.1% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,834 shares of the software maker’s stock valued at $1,781,000 after buying an additional 329 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Trading Up 0.5 %

INTU stock opened at $609.61 on Monday. The business has a fifty day moving average price of $602.28 and a 200 day moving average price of $625.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The stock has a market capitalization of $170.42 billion, a price-to-earnings ratio of 59.19, a P/E/G ratio of 2.85 and a beta of 1.27.

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 paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Activity at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The shares were 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 in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,811 shares of company stock valued at $142,391,012 over the last ninety days. 2.68% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTU. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Scotiabank lowered their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, BMO Capital Markets reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

About Intuit

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.