Intuit Inc. (NASDAQ:INTU) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its position in Intuit Inc. (NASDAQ:INTU) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,440,875 shares of the software maker’s stock after selling 206,161 shares during the quarter. Primecap Management Co. CA owned about 0.51% of Intuit worth $905,590,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INTU. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Intuit in the third quarter valued at $396,000. Thrivent Financial for Lutherans lifted its holdings in shares of Intuit by 2.7% during the third quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker’s stock valued at $9,149,000 after purchasing an additional 388 shares during the last quarter. Aljian Capital Management LLC lifted its holdings in shares of Intuit by 1.3% during the third quarter. Aljian Capital Management LLC now owns 6,048 shares of the software maker’s stock valued at $3,756,000 after purchasing an additional 75 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Intuit by 203.7% during the third quarter. Quest Partners LLC now owns 1,652 shares of the software maker’s stock valued at $1,026,000 after purchasing an additional 1,108 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Intuit during the third quarter valued at $8,317,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 0.6 %

INTU opened at $602.11 on Tuesday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The business has a 50-day moving average of $597.76 and a 200-day moving average of $623.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $168.33 billion, a PE ratio of 58.46, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

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 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’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 $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,301 shares of company stock valued at $121,470,200 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on INTU. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their target price for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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.