Heritage Investors Management Corp Sells 67 Shares of Intuit Inc. (NASDAQ:INTU)

Heritage Investors Management Corp reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,483 shares of the software maker’s stock after selling 67 shares during the quarter. Heritage Investors Management Corp’s holdings in Intuit were worth $932,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of INTU. Integrated Advisors Network LLC lifted its stake in shares of Intuit by 9.6% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,416 shares of the software maker’s stock valued at $879,000 after buying an additional 124 shares in the last quarter. Strategic Blueprint LLC lifted its stake in shares of Intuit by 1.9% during the 3rd quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock valued at $725,000 after buying an additional 22 shares in the last quarter. Mutual Advisors LLC lifted its stake in shares of Intuit by 21.5% during the 3rd quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock valued at $1,625,000 after buying an additional 476 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Intuit by 1.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,328 shares of the software maker’s stock valued at $830,000 after buying an additional 22 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its stake in Intuit by 18.8% in the 3rd quarter. Diversify Wealth Management LLC now owns 2,928 shares of the software maker’s stock worth $1,763,000 after purchasing an additional 463 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $12,286.92. This trade represents a 99.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,014 shares of company stock valued at $140,855,687. Insiders own 2.68% of the company’s stock.

Intuit Price Performance

INTU stock opened at $600.42 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The firm’s fifty day moving average is $606.49 and its 200 day moving average is $627.35. The firm has a market cap of $168.07 billion, a P/E ratio of 58.29, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

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

Analyst Ratings Changes

INTU has been the topic of several recent analyst reports. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Oppenheimer increased their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Citigroup lowered their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.