Dearborn Partners LLC Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Dearborn Partners LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,480 shares of the software maker’s stock after selling 758 shares during the quarter. Dearborn Partners LLC’s holdings in Intuit were worth $34,869,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of INTU. R Squared Ltd acquired a new position in shares of Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC increased its holdings in shares of Intuit by 72.0% in 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 acquired a new position in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit in the 4th quarter valued at $29,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent research reports. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Mizuho boosted their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Scotiabank dropped their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $721.61.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,111 shares of company stock worth $137,327,184. Corporate insiders own 2.68% of the company’s stock.

Intuit Price Performance

Intuit stock opened at $579.78 on Tuesday. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $601.27 and its 200 day simple moving average is $624.52. The firm has a market capitalization of $162.08 billion, a PE ratio of 56.29, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. Intuit’s dividend payout ratio is presently 38.81%.

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.