Meeder Advisory Services Inc. Sells 47 Shares of Intuit Inc. (NASDAQ:INTU)

Meeder Advisory Services Inc. lowered its stake in Intuit Inc. (NASDAQ:INTU) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,004 shares of the software maker’s stock after selling 47 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Intuit were worth $3,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB lifted its position in Intuit by 83.2% in the 4th 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 in the last quarter. Whalen Wealth Management Inc. acquired a new stake in shares of Intuit in the 4th quarter valued at about $621,000. Beacon Investment Advisory Services Inc. lifted its holdings in shares of Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after purchasing an additional 1,602 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Intuit by 2.2% during 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 period. Finally, Douglas Lane & Associates LLC grew its holdings in shares of Intuit by 109.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after buying an additional 12,916 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on INTU. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Scotiabank lowered their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. BNP Paribas cut shares of 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. Finally, JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average price target of $718.00.

Insider Transactions at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 26,562 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the transaction, the chief executive officer now owns 37,869 shares in the company, valued at $23,701,828.41. This represents a 41.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares in the company, valued at $4,800. This represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,896 shares of company stock worth $35,689,216. Company insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $613.78 on Wednesday. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a market capitalization of $171.59 billion, a price-to-earnings ratio of 59.59, a PEG ratio of 2.85 and a beta of 1.27. The company has a 50-day simple moving average of $596.18 and a 200 day simple moving average of $621.71. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Intuit 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.