Keybank National Association OH Sells 970 Shares of Intuit Inc. (NASDAQ:INTU)

Keybank National Association OH cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% during the fourth quarter, Holdings Channel reports. The fund owned 82,819 shares of the software maker’s stock after selling 970 shares during the quarter. Keybank National Association OH’s holdings in Intuit were worth $52,052,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its position in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after acquiring an additional 1,062,847 shares during the period. Holocene Advisors LP increased its holdings in Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares during the period. State Street Corp increased its stake in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in Intuit during the fourth quarter worth approximately $104,278,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 2.1 %

INTU stock opened at $601.09 on Tuesday. The company has a market cap of $168.04 billion, a P/E ratio of 58.36, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company’s 50-day moving average price is $605.15 and its 200 day moving average price is $626.69. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Activity

In other news, insider Scott D. Cook sold 73,655 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction 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 owns 35,776 shares in the company, valued at $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 224,460 shares of company stock valued at $144,750,747 over the last 90 days. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent research reports. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Citigroup reduced their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Mizuho upped their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $720.50.

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.