HBK Investments L P reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 32.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,799 shares of the software maker’s stock after selling 7,728 shares during the quarter. HBK Investments L P’s holdings in Intuit were worth $2,493,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in Intuit by 71.7% during the fourth quarter. Bank of Montreal Can now owns 471,620 shares of the software maker’s stock worth $74,412,000 after acquiring an additional 196,911 shares in the last quarter. Boston Advisors LLC grew its holdings in shares of Intuit by 1,337.2% during the fourth quarter. Boston Advisors LLC now owns 130,301 shares of the software maker’s stock worth $20,559,000 after purchasing an additional 121,235 shares during the last quarter. IFM Investors Pty Ltd bought a new stake in shares of Intuit during the third quarter worth $959,000. Sit Investment Associates Inc. grew its holdings in shares of Intuit by 4.4% during the fourth quarter. Sit Investment Associates Inc. now owns 85,850 shares of the software maker’s stock worth $13,545,000 after purchasing an additional 3,650 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C grew its holdings in shares of Intuit by 142.3% during the third quarter. Atlanta Capital Management Co. L L C now owns 504,885 shares of the software maker’s stock worth $71,764,000 after purchasing an additional 296,481 shares during the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.
Intuit stock opened at $178.59 on Monday. The stock has a market capitalization of $45,738.88, a PE ratio of 47.62, a P/E/G ratio of 2.72 and a beta of 1.15. Intuit Inc. has a 1-year low of $114.80 and a 1-year high of $179.30. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.36.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Tuesday, April 10th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, April 9th. Intuit’s dividend payout ratio is 42.86%.
In other Intuit news, Chairman Scott D. Cook sold 214,272 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $177.94, for a total transaction of $38,127,559.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Scott D. Cook sold 184,733 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $158.98, for a total value of $29,368,852.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,036,700 shares of company stock worth $177,597,045. 5.59% of the stock is owned by company insiders.
Several brokerages have recently commented on INTU. Credit Suisse Group increased their target price on Intuit from $185.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, March 12th. Argus increased their target price on Intuit from $175.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, February 26th. They noted that the move was a valuation call. UBS restated a “neutral” rating and set a $177.00 target price (up previously from $170.00) on shares of Intuit in a report on Friday, February 23rd. Stifel Nicolaus restated a “hold” rating and set a $148.00 target price on shares of Intuit in a report on Tuesday, November 21st. Finally, Royal Bank of Canada restated a “hold” rating and set a $182.00 target price on shares of Intuit in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $167.05.
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Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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