Pinnacle Wealth Planning Services Inc. Sells 465 Shares of Intuit Inc. (NASDAQ:INTU)

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

Several other hedge funds have also recently added to or reduced their stakes in INTU. Nordea Investment Management AB lifted its position in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new stake in shares of Intuit in the 4th quarter worth approximately $621,000. Harvest Portfolios Group Inc. lifted its position in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the period. Retireful LLC bought a new stake in shares of Intuit in the 3rd quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Intuit in the 3rd quarter worth approximately $56,144,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research report on Wednesday, February 26th. Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Scotiabank cut their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Activity

In other news, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the sale, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. This trade represents a 18.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on 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 completion of the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,811 shares of company stock valued at $142,391,012. Company insiders own 2.68% of the company’s stock.

Intuit Trading Up 3.3 %

INTU stock opened at $617.51 on Thursday. The business has a fifty day moving average price of $603.65 and a 200 day moving average price of $626.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The stock has a market capitalization 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 company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is currently 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.