Grandfield & Dodd LLC Sells 20 Shares of Intuit Inc. (NASDAQ:INTU)

Grandfield & Dodd LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 503 shares of the software maker’s stock after selling 20 shares during the period. Grandfield & Dodd LLC’s holdings in Intuit were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. R Squared Ltd bought a new position in Intuit in the 4th quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the fourth quarter valued at approximately $28,000. Sugar Maple Asset Management LLC acquired a new position in Intuit during the fourth quarter valued at approximately $29,000. Finally, Denver PWM LLC bought a new stake in Intuit during the third quarter worth $32,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 2.2 %

NASDAQ INTU opened at $613.84 on Monday. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $171.82 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The business’s 50-day moving average price is $605.90 and its two-hundred day moving average price is $627.05.

Intuit Announces Dividend

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

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock worth $140,855,687 over the last three months. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent analyst reports. BMO Capital Markets decreased their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $717.88.

About Intuit

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.