Intuit Inc. (NASDAQ:INTU) Shares Sold by AGF Management Ltd.

AGF Management Ltd. lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,583 shares of the software maker’s stock after selling 15,322 shares during the period. AGF Management Ltd. owned 0.09% of Intuit worth $156,863,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Avantax Planning Partners Inc. increased its stake in Intuit by 20.0% during the fourth quarter. Avantax Planning Partners Inc. now owns 1,012 shares of the software maker’s stock worth $636,000 after acquiring an additional 169 shares during the last quarter. Donaldson Capital Management LLC boosted its position in shares of Intuit by 1.6% in the fourth quarter. Donaldson Capital Management LLC now owns 10,779 shares of the software maker’s stock worth $6,774,000 after buying an additional 169 shares during the period. Citizens Financial Group Inc. RI boosted its position in shares of Intuit by 5.1% in the fourth quarter. Citizens Financial Group Inc. RI now owns 14,112 shares of the software maker’s stock worth $8,869,000 after buying an additional 689 shares during the period. Sage Mountain Advisors LLC lifted its position in shares of Intuit by 9.8% in the fourth quarter. Sage Mountain Advisors LLC now owns 1,282 shares of the software maker’s stock worth $806,000 after buying an additional 114 shares during the last quarter. Finally, Davis R M Inc. lifted its holdings in shares of Intuit by 0.3% during the fourth quarter. Davis R M Inc. now owns 139,684 shares of the software maker’s stock worth $87,792,000 after buying an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 4.9 %

Shares of INTU stock opened at $579.78 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The stock has a fifty day moving average of $601.27 and a two-hundred day moving average of $624.52. The firm has a market capitalization of $162.08 billion, a PE ratio of 56.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INTU. Mizuho raised their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $721.61.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the transaction, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,111 shares of company stock worth $137,327,184. 2.68% of the stock is owned by corporate 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.