Garner Asset Management Corp Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Garner Asset Management Corp lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 3.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,588 shares of the software maker’s stock after selling 60 shares during the quarter. Garner Asset Management Corp’s holdings in Intuit were worth $999,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Intuit in the fourth quarter worth approximately $621,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 valued at $107,854,000 after buying an additional 3,648 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in shares of Intuit by 3.8% during 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 acquiring an additional 1,602 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in Intuit by 109.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after acquiring an additional 12,916 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on INTU shares. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Oppenheimer reduced their price objective on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research note on Friday. Piper Sandler restated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a research note on Wednesday, February 26th. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $713.56.

Insider Activity

In other news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53 % decrease in their position. The transaction 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 firm’s 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 sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,696 shares of company stock worth $14,347,731. Company insiders own 2.68% of the company’s stock.

Intuit Stock Up 1.7 %

Shares of NASDAQ INTU opened at $587.04 on Friday. The stock has a 50 day moving average price of $591.70 and a 200 day moving average price of $617.55. The firm has a market capitalization of $164.11 billion, a price-to-earnings ratio of 56.99, a PEG ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, April 10th. 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.