Heritage Investors Management Corp Reduces Holdings in Intuit Inc. (NASDAQ:INTU)

Heritage Investors Management Corp trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,483 shares of the software maker’s stock after selling 67 shares during the period. Heritage Investors Management Corp’s holdings in Intuit were worth $932,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. Integrated Advisors Network LLC lifted its position in shares of Intuit by 9.6% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,416 shares of the software maker’s stock worth $879,000 after purchasing an additional 124 shares during the period. Strategic Blueprint LLC lifted its position in Intuit by 1.9% during the 3rd quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock valued at $725,000 after acquiring an additional 22 shares during the period. Mutual Advisors LLC lifted its position in Intuit by 21.5% during the 3rd quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock valued at $1,625,000 after acquiring an additional 476 shares during the period. Pinnacle Associates Ltd. lifted its position in Intuit by 1.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,328 shares of the software maker’s stock valued at $830,000 after acquiring an additional 22 shares during the period. Finally, Diversify Wealth Management LLC lifted its position in Intuit by 18.8% during the 3rd quarter. Diversify Wealth Management LLC now owns 2,928 shares of the software maker’s stock valued at $1,763,000 after acquiring an additional 463 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock worth $140,855,687 over the last three months. 2.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INTU shares. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a research report on Wednesday. Barclays lowered their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $717.88.

Intuit Stock Performance

Shares of INTU stock opened at $600.42 on Friday. The company has a 50 day moving average price of $606.49 and a 200-day moving average price of $627.35. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The firm has a market capitalization of $168.07 billion, a PE ratio of 58.29, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio is presently 38.81%.

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.