Scholtz & Company LLC Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Scholtz & Company LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,823 shares of the software maker’s stock after selling 60 shares during the quarter. Intuit accounts for about 2.0% of Scholtz & Company LLC’s portfolio, making the stock its 17th biggest position. Scholtz & Company LLC’s holdings in Intuit were worth $4,288,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INTU. Nordea Investment Management AB lifted its holdings in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit during the 4th quarter valued at about $621,000. Beacon Investment Advisory Services Inc. lifted its stake in shares of Intuit by 3.8% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock worth $27,223,000 after purchasing an additional 1,602 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after buying an additional 3,648 shares during the last quarter. Finally, Douglas Lane & Associates LLC grew its position in Intuit by 109.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock valued at $15,502,000 after buying an additional 12,916 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on INTU. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $718.00.

Intuit Price Performance

Shares of INTU stock opened at $613.78 on Wednesday. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The stock has a fifty day simple moving average of $596.18 and a two-hundred day simple moving average of $621.71. The stock has a market capitalization of $171.59 billion, a price-to-earnings ratio of 59.59, 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 dividend yield of 0.68%. Intuit’s dividend payout ratio is currently 38.81%.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,896 shares of company stock worth $35,689,216 over the last 90 days. Company insiders own 2.68% of the company’s stock.

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.