Wilson Asset Management International PTY Ltd. Sells 5,911 Shares of Intuit Inc. (NASDAQ:INTU)

Wilson Asset Management International PTY Ltd. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 14.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 34,456 shares of the software maker’s stock after selling 5,911 shares during the period. Intuit accounts for approximately 5.6% of Wilson Asset Management International PTY Ltd.’s holdings, making the stock its 2nd largest holding. Wilson Asset Management International PTY Ltd.’s holdings in Intuit were worth $21,656,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of INTU. Brown Financial Advisors raised its holdings in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares during the period. Truvestments Capital LLC raised its holdings in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares during the period. True North Advisors LLC raised its holdings in shares of Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC raised its holdings in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after buying an additional 17 shares during the period. Finally, Kovack Advisors Inc. raised its holdings in shares of Intuit by 4.8% in the 3rd quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock valued at $244,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 1.2 %

Intuit stock opened at $586.71 on Wednesday. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The stock has a 50 day moving average of $600.43 and a two-hundred day moving average of $624.29. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $164.02 billion, a price-to-earnings ratio of 56.96, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The business also recently disclosed 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 0.71%. Intuit’s payout ratio is 38.81%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INTU. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Oppenheimer increased their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. Scotiabank dropped their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $721.61.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,111 shares of company stock valued at $137,327,184. 2.68% of the stock is owned by company insiders.

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.