Intuit Inc. (NASDAQ:INTU) Stake Reduced by Mitchell Capital Management Co.

Mitchell Capital Management Co. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,652 shares of the software maker’s stock after selling 289 shares during the quarter. Mitchell Capital Management Co.’s holdings in Intuit were worth $3,552,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter worth $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit in the fourth quarter worth $28,000. Sugar Maple Asset Management LLC bought a new position in shares of Intuit in the fourth quarter worth $29,000. Finally, Denver PWM LLC bought a new position in shares of Intuit in the third quarter worth $32,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Up 2.2 %

Shares of Intuit stock opened at $613.84 on Friday. The stock has a 50-day moving average price of $605.90 and a 200 day moving average price of $627.12. The company has a market cap of $171.82 billion, a P/E ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Dividend Announcement

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

Insider Buying and Selling

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $12,286.92. This represents a 99.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,014 shares of company stock valued at $140,855,687. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday. Finally, Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $717.88.

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.