ASR Vermogensbeheer N.V. lowered its stake in Intuit Inc. (NASDAQ:INTU – Free Report) by 0.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 34,665 shares of the software maker’s stock after selling 138 shares during the period. ASR Vermogensbeheer N.V.’s holdings in Intuit were worth $27,302,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dogwood Wealth Management LLC raised its holdings in shares of Intuit by 111.8% during the second quarter. Dogwood Wealth Management LLC now owns 36 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the last quarter. Vista Cima Wealth Management LLC purchased a new position in shares of Intuit during the first quarter worth $31,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Intuit by 1,566.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 50 shares of the software maker’s stock worth $31,000 after purchasing an additional 47 shares during the last quarter. TD Capital Management LLC raised its holdings in shares of Intuit by 511.1% during the first quarter. TD Capital Management LLC now owns 55 shares of the software maker’s stock worth $34,000 after purchasing an additional 46 shares during the last quarter. Finally, Olde Wealth Management LLC purchased a new position in shares of Intuit during the first quarter worth $37,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.
Intuit Stock Down 0.5%
Shares of NASDAQ INTU opened at $679.50 on Thursday. The company’s 50-day simple moving average is $705.06 and its 200-day simple moving average is $690.39. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The firm has a market cap of $189.44 billion, a price-to-earnings ratio of 49.45, a price-to-earnings-growth ratio of 2.64 and a beta of 1.25. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30.
Intuit Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Thursday, October 9th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 0.7%. This is a boost from Intuit’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Thursday, October 9th. Intuit’s payout ratio is presently 30.28%.
Insider Activity
In other Intuit news, CFO Sandeep Aujla sold 42 shares of Intuit stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $664.99, for a total transaction of $27,929.58. Following the transaction, the chief financial officer directly owned 831 shares of the company’s stock, valued at $552,606.69. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott D. Cook sold 529 shares of Intuit stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $664.99, for a total transaction of $351,779.71. Following the transaction, the director directly owned 6,162,547 shares in the company, valued at $4,098,032,129.53. This trade represents a 0.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,785 shares of company stock valued at $2,029,299 over the last three months. 2.68% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several brokerages recently issued reports on INTU. UBS Group reduced their target price on shares of Intuit from $750.00 to $725.00 and set a “neutral” rating for the company in a report on Friday, August 22nd. Barclays reduced their target price on shares of Intuit from $815.00 to $785.00 and set an “overweight” rating for the company in a report on Friday, August 22nd. KeyCorp dropped their price target on shares of Intuit from $850.00 to $825.00 and set an “overweight” rating on the stock in a research report on Friday, August 22nd. Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the company an “overweight” rating in a research report on Friday, June 13th. Finally, Stifel Nicolaus dropped their price target on shares of Intuit from $850.00 to $800.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $791.82.
Read Our Latest Stock Report on INTU
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.
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