Blueshift Asset Management LLC Has $2.21 Million Stake in Intuit Inc. (NASDAQ:INTU)

Blueshift Asset Management LLC reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,511 shares of the software maker’s stock after selling 1,088 shares during the quarter. Intuit accounts for 0.8% of Blueshift Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. Blueshift Asset Management LLC’s holdings in Intuit were worth $2,207,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Intuit during the 4th quarter valued at $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit in the fourth quarter worth approximately $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,646 shares of company stock valued at $72,494,045 in the last 90 days. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Shares of INTU stock opened at $603.11 on Thursday. The company has a market capitalization of $168.61 billion, a P/E ratio of 58.55, a P/E/G ratio of 2.85 and a beta of 1.27. 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 12 month low of $553.24 and a 12 month high of $714.78. The stock has a 50 day moving average of $596.98 and a two-hundred day moving average of $623.15.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio is currently 38.81%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INTU. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup decreased their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Jefferies Financial Group increased their price objective 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 target price for the company. in a report on Wednesday, January 15th. One research 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. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target 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.