Oarsman Capital Inc. Has $1.19 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Oarsman Capital Inc. lessened its stake in Intuit Inc. (NASDAQ:INTU) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 1,887 shares of the software maker’s stock after selling 39 shares during the quarter. Oarsman Capital Inc.’s holdings in Intuit were worth $1,186,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. R Squared Ltd bought a new position in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the fourth quarter valued at about $28,000. Finally, Summit Securities Group LLC acquired a new stake in Intuit in the fourth quarter worth about $28,000. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,862 shares of company stock valued at $18,767,673 in the last 90 days. 2.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on INTU. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Piper Sandler restated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Morgan Stanley raised 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, Jefferies Financial Group reduced their price objective on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $718.00.

Intuit Trading Down 6.2 %

Shares of NASDAQ:INTU opened at $561.53 on Friday. The company’s 50-day moving average price is $595.64 and its two-hundred day moving average price is $620.96. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $156.98 billion, a PE ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.74%. Intuit’s dividend 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.