NewEdge Wealth LLC Sells 277 Shares of Intuit Inc. (NASDAQ:INTU)

NewEdge Wealth LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,493 shares of the software maker’s stock after selling 277 shares during the quarter. NewEdge Wealth LLC’s holdings in Intuit were worth $6,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of INTU. R Squared Ltd purchased a new stake in shares of Intuit in the 4th quarter worth $25,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the 4th quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit in the 4th quarter worth $29,000. Finally, Denver PWM LLC purchased a new stake in shares of Intuit in the 3rd quarter worth $32,000. 83.66% of the stock is owned by institutional investors.

Intuit Trading Down 4.0 %

Shares of Intuit stock opened at $600.42 on Friday. The firm has a market cap of $168.07 billion, a price-to-earnings ratio of 58.29, a PEG ratio of 2.85 and a beta of 1.24. The business has a 50-day moving average price of $606.49 and a 200-day moving average price of $627.35. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78.

Intuit Dividend Announcement

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

Wall Street Analyst Weigh In

INTU has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group increased their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $717.88.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,014 shares of company stock valued at $140,855,687. Insiders own 2.68% of the company’s stock.

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.