Intuit Inc. (NASDAQ:INTU) Holdings Lowered by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 21.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,752 shares of the software maker’s stock after selling 465 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Intuit were worth $1,101,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB lifted 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 purchasing an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit during the fourth quarter valued at $621,000. Harvest Portfolios Group Inc. raised its position in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after buying an additional 1,853 shares during the period. Retireful LLC acquired a new position in Intuit during the third quarter valued at $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Intuit during the third quarter valued at $56,144,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,811 shares of company stock valued at $142,391,012. Insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reissued an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the company from $640.00 to $660.00 in a research report on Wednesday. Mizuho upped their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $617.51 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $172.63 billion, a price-to-earnings ratio of 59.95, a P/E/G ratio of 2.85 and a beta of 1.24. The business’s 50-day simple moving average is $603.65 and its 200-day simple moving average is $626.24. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend 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.