American Money Management LLC Sells 160 Shares of Intuit Inc. (NASDAQ:INTU)

American Money Management LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,525 shares of the software maker’s stock after selling 160 shares during the period. Intuit accounts for about 1.7% of American Money Management LLC’s portfolio, making the stock its 19th biggest position. American Money Management LLC’s holdings in Intuit were worth $8,501,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC lifted its position in shares of Intuit by 72.0% during the 4th 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 period. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Intuit in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $598.92 on Friday. The business’s fifty day simple moving average is $595.90 and its 200 day simple moving average is $622.38. 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 Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The firm has a market capitalization of $167.44 billion, a P/E ratio of 58.15, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on INTU shares. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets lowered their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. One 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Buying and Selling

In related 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 value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $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 accessible through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s 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 $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,896 shares of company stock valued at $82,946,716. 2.68% of the stock is owned by insiders.

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.