Hartford Investment Management Co. Sells 268 Shares of Intuit Inc. (NASDAQ:INTU)

Hartford Investment Management Co. trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 17,326 shares of the software maker’s stock after selling 268 shares during the quarter. Hartford Investment Management Co.’s holdings in Intuit were worth $10,889,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. R Squared Ltd bought a new position in Intuit in the 4th quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter worth $27,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the fourth quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the fourth quarter valued at about $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the sale, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by insiders.

Intuit Stock Down 0.2 %

Shares of INTU stock opened at $585.88 on Wednesday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm has a market capitalization of $164.00 billion, a PE ratio of 56.88, a P/E/G ratio of 2.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day simple moving average is $625.25 and its 200-day simple moving average is $631.39.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the company earned $1.14 EPS. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit’s dividend payout ratio is presently 40.39%.

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 ProTax.