Ostrum Asset Management Sells 6,258 Shares of Intuit Inc. (NASDAQ:INTU)

Ostrum Asset Management lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,956 shares of the software maker’s stock after selling 6,258 shares during the quarter. Intuit makes up about 2.3% of Ostrum Asset Management’s investment portfolio, making the stock its 21st largest position. Ostrum Asset Management’s holdings in Intuit were worth $26,998,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Nordea Investment Management AB grew its stake 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 worth $371,984,000 after purchasing an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new position in Intuit during the fourth quarter worth about $621,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after buying an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. increased its stake in shares of Intuit by 3.8% in the 4th 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 during the last quarter. Finally, Douglas Lane & Associates LLC raised its position in shares of Intuit by 109.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock valued at $15,502,000 after acquiring an additional 12,916 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Down 0.5 %

Shares of INTU stock opened at $585.38 on Friday. The stock has a 50 day simple moving average of $592.03 and a 200 day simple moving average of $616.49. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. 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 cap of $163.65 billion, a P/E ratio of 56.83, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were paid a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Analyst Ratings Changes

INTU has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group lowered their price objective on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $600.00 to $700.00 in a report on Thursday. Oppenheimer decreased their target price on Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $718.56.

Insider Buying and Selling at Intuit

In related news, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock worth $14,347,731 over the last three months. Corporate insiders own 2.68% of the company’s stock.

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.