Intuit Inc. (NASDAQ:INTU) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,508 shares of the software maker’s stock after selling 989 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Intuit were worth $23,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Financial Advisors boosted its stake in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after buying an additional 15 shares during the last quarter. Truvestments Capital LLC boosted its stake in Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after buying an additional 16 shares during the last quarter. True North Advisors LLC boosted its stake in Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after buying an additional 17 shares during the last quarter. Great Diamond Partners LLC boosted its stake in Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after buying an additional 17 shares during the last quarter. Finally, Cornerstone Wealth Group LLC boosted its stake in Intuit by 2.7% during the third quarter. Cornerstone Wealth Group LLC now owns 686 shares of the software maker’s stock worth $426,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU opened at $613.84 on Friday. The stock’s 50-day moving average price is $605.90 and its 200 day moving average price is $627.25. Intuit Inc. has a 12-month low of $553.24 and a 12-month 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 firm has a market cap of $171.82 billion, a price-to-earnings ratio of 59.60, a PEG ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the sale, the executive vice president now owns 19 shares in the company, valued at approximately $12,286.92. This trade represents a 99.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,014 shares of company stock valued at $140,855,687. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. Scotiabank lowered their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday. Citigroup lowered their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $717.88.

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.