PNC Financial Services Group Inc. Sells 13,631 Shares of Intuit Inc. (NASDAQ:INTU)

PNC Financial Services Group Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 10.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 114,261 shares of the software maker’s stock after selling 13,631 shares during the period. PNC Financial Services Group Inc.’s holdings in Intuit were worth $71,813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. Bank Julius Baer & Co. Ltd Zurich boosted its position in Intuit by 3.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 260,389 shares of the software maker’s stock valued at $176,650,000 after acquiring an additional 9,514 shares in the last quarter. AMG National Trust Bank lifted its stake in shares of Intuit by 4.1% during the 4th quarter. AMG National Trust Bank now owns 1,466 shares of the software maker’s stock worth $921,000 after purchasing an additional 58 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in Intuit by 93.8% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 2,874 shares of the software maker’s stock valued at $1,808,000 after purchasing an additional 1,391 shares in the last quarter. Berkshire Asset Management LLC PA purchased a new position in Intuit in the fourth quarter valued at about $235,000. Finally, Andra AP fonden raised its holdings in Intuit by 11.5% in the fourth quarter. Andra AP fonden now owns 42,600 shares of the software maker’s stock worth $26,774,000 after purchasing an additional 4,400 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the transaction, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. The trade was a 18.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,811 shares of company stock worth $142,391,012. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $609.61 on Friday. The stock has a market cap of $170.42 billion, a price-to-earnings ratio of 59.19, a PEG ratio of 2.85 and a beta of 1.27. The company has a 50 day simple moving average of $602.28 and a two-hundred day simple moving average of $625.44. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INTU. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Scotiabank lowered their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research report on Wednesday, February 26th. BMO Capital Markets lowered their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. 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.com, the company has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Company 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.