Intuit Inc. (NASDAQ:INTU) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 31.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 796,134 shares of the software maker’s stock after selling 373,297 shares during the quarter. Alliancebernstein L.P. owned about 0.28% of Intuit worth $500,370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Intuit in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock opened at $598.92 on Monday. The business has a 50 day simple moving average of $595.90 and a two-hundred day simple moving average of $622.23. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The stock has a market capitalization of $167.44 billion, a P/E ratio of 58.15, a PEG ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s payout ratio is currently 38.81%.

Analyst Ratings Changes

A number of equities analysts have issued reports on INTU shares. Scotiabank reduced their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a report on Wednesday, February 26th. Mizuho boosted their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Insiders Place Their Bets

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 363 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $228,145.50. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $11,941.50. This trade represents a 95.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,896 shares of company stock valued at $82,946,716 in the last 90 days. 2.68% of the stock is owned by insiders.

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.