Simplicity Wealth LLC Sells 19 Shares of Intuit Inc. (NASDAQ:INTU)

Simplicity Wealth LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 568 shares of the software maker’s stock after selling 19 shares during the period. Simplicity Wealth LLC’s holdings in Intuit were worth $357,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit in the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Intuit in the fourth quarter valued at approximately $29,000. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 213,111 shares of company stock worth $137,327,184 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INTU. 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. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Mizuho increased their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Trading Down 4.9 %

Shares of INTU stock opened at $579.78 on Tuesday. 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 company has a market capitalization of $162.08 billion, a PE ratio of 56.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business’s fifty day moving average is $601.27 and its 200 day moving average is $624.52.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. Intuit’s payout ratio is 38.81%.

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.