Intuit Inc. (NASDAQ:INTU) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 63.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,528 shares of the software maker’s stock after selling 2,692 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Intuit were worth $961,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC increased 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 purchasing an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit during the fourth quarter worth approximately $29,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other news, EVP Laura A. Fennell sold 7,700 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the sale, the executive vice president now owns 33,916 shares in the company, valued at approximately $22,304,518.24. This represents a 18.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,811 shares of company stock valued at $142,391,012. 2.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INTU shares. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Piper Sandler restated an “overweight” rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Scotiabank lowered their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Up 0.5 %

NASDAQ INTU opened at $609.61 on Monday. 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 Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The firm’s fifty day simple moving average is $602.28 and its 200-day simple moving average is $625.12. The company has a market capitalization of $170.42 billion, a PE ratio of 59.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

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.