PFG Advisors Sells 776 Shares of Intuit Inc. (NASDAQ:INTU)

PFG Advisors lowered its position in Intuit Inc. (NASDAQ:INTU) by 20.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,041 shares of the software maker’s stock after selling 776 shares during the quarter. PFG Advisors’ holdings in Intuit were worth $1,911,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Brown Financial Advisors increased its stake in Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after acquiring an additional 15 shares during the last quarter. Truvestments Capital LLC increased its stake in Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after acquiring an additional 16 shares during the last quarter. True North Advisors LLC increased its stake in Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after acquiring an additional 17 shares during the last quarter. Great Diamond Partners LLC increased its stake in Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after acquiring an additional 17 shares during the last quarter. Finally, Kovack Advisors Inc. increased its stake in Intuit by 4.8% in the third quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock valued at $244,000 after acquiring an additional 18 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the firm’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 transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,301 shares of company stock worth $121,470,200 over the last three months. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on INTU. Scotiabank reduced their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research note on Wednesday, February 26th. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Performance

Shares of INTU opened at $591.14 on Thursday. 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 Inc. has a one year low of $553.24 and a one year high of $714.78. The company has a 50-day simple moving average of $599.68 and a two-hundred day simple moving average of $624.06. The firm has a market capitalization of $165.26 billion, a PE ratio of 57.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The business 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 annualized dividend and a yield of 0.70%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Intuit 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.