Assenagon Asset Management S.A. decreased its position in Intuit Inc. (NASDAQ:INTU – Free Report) by 35.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,825 shares of the software maker’s stock after selling 4,274 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Intuit were worth $3,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Fairfield Bush & CO. lifted its position in Intuit by 39.6% in the first quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after purchasing an additional 1,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Intuit by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock valued at $242,492,000 after purchasing an additional 48,196 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Intuit by 8.4% during the first quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock valued at $1,552,000 after buying an additional 249 shares during the period. Baird Financial Group Inc. increased its stake in shares of Intuit by 7.1% during the first quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock valued at $25,825,000 after buying an additional 3,576 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of Intuit by 6.6% during the first quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock valued at $16,448,000 after buying an additional 2,127 shares during the period. Institutional investors own 82.51% of the company’s stock.
Intuit Trading Up 1.4 %
NASDAQ INTU opened at $457.84 on Thursday. Intuit Inc. has a 12 month low of $352.63 and a 12 month high of $490.83. The stock has a market cap of $128.22 billion, a P/E ratio of 57.81, a P/E/G ratio of 3.08 and a beta of 1.19. The stock’s fifty day moving average price is $438.41 and its 200-day moving average price is $421.87. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.35.
Intuit Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, July 7th. Intuit’s payout ratio is currently 39.39%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on INTU. Bank of America boosted their target price on Intuit from $500.00 to $530.00 in a research note on Wednesday, June 14th. Piper Sandler reduced their target price on Intuit from $510.00 to $497.00 in a research note on Wednesday, May 24th. Wells Fargo & Company boosted their target price on Intuit from $475.00 to $525.00 and gave the company an “overweight” rating in a research note on Monday, April 3rd. Mizuho reduced their target price on Intuit from $650.00 to $550.00 in a research note on Tuesday, May 16th. Finally, UBS Group began coverage on Intuit in a research note on Wednesday, March 15th. They issued a “neutral” rating and a $430.00 price target on the stock. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $492.85.
Insider Activity
In other Intuit news, EVP James Alexander Chriss sold 563 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $418.40, for a total value of $235,559.20. Following the transaction, the executive vice president now owns 409 shares of the company’s stock, valued at $171,125.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intuit news, CFO Michelle M. Clatterbuck sold 706 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $418.40, for a total value of $295,390.40. Following the transaction, the chief financial officer now owns 1,350 shares of the company’s stock, valued at $564,840. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Alexander Chriss sold 563 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $418.40, for a total value of $235,559.20. Following the completion of the transaction, the executive vice president now directly owns 409 shares in the company, valued at approximately $171,125.60. The disclosure for this sale can be found here. Insiders have sold a total of 56,422 shares of company stock valued at $25,405,260 over the last ninety days. 3.18% of the stock is currently owned by corporate insiders.
Intuit Company 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 ProConnect.
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