Hartford Investment Management Co. Sells 268 Shares of Intuit Inc. (NASDAQ:INTU)

Hartford Investment Management Co. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,326 shares of the software maker’s stock after selling 268 shares during the quarter. Hartford Investment Management Co.’s holdings in Intuit were worth $10,889,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Nordea Investment Management AB grew its holdings in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in Intuit in the 4th quarter valued at approximately $621,000. Harvest Portfolios Group Inc. boosted its stake in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the last quarter. Retireful LLC bought a new stake in shares of Intuit in the 3rd quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Intuit in the third quarter worth $56,144,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’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 $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 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

INTU has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

NASDAQ:INTU opened at $585.88 on Wednesday. The business’s 50-day simple moving average is $625.25 and its two-hundred day simple moving average is $631.39. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock has a market cap of $164.00 billion, a PE ratio of 56.88, a P/E/G ratio of 2.91 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 earnings per share. As a group, analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is presently 40.39%.

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.