Hillsdale Investment Management Inc. Has $165,000 Stake in Intuit Inc. (NASDAQ:INTU)

Hillsdale Investment Management Inc. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 57.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262 shares of the software maker’s stock after selling 360 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Intuit were worth $165,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new position in Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% in the fourth 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 last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Intuit during the 4th quarter valued at $29,000. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $613.09 on Tuesday. The company has a 50-day moving average price of $596.08 and a two-hundred day moving average price of $622.74. Intuit Inc. has a twelve month low of $553.24 and a twelve month 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 has a market capitalization of $171.40 billion, a PE ratio of 59.52, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

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

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marianna Tessel sold 7,385 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,733 shares of company stock valued at $77,947,205 over the last three months. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of a number of recent analyst reports. Mizuho boosted their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Redburn Atlantic assumed coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Citigroup dropped their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Scotiabank lowered their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit 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.