Verdence Capital Advisors LLC Sells 27 Shares of Intuit Inc. (NASDAQ:INTU)

Verdence Capital Advisors LLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,249 shares of the software maker’s stock after selling 27 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Intuit were worth $785,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the 4th quarter valued at $29,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ INTU opened at $606.37 on Friday. The company has a fifty day moving average price of $602.86 and a 200-day moving average price of $626.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $169.52 billion, a price-to-earnings ratio of 58.87, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Analysts Set New Price Targets

Several analysts have recently weighed in on INTU shares. BMO Capital Markets lowered their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Scotiabank decreased their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Morgan Stanley upgraded 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 note on Wednesday, February 26th. Finally, Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the transaction, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,811 shares of company stock valued at $142,391,012. 2.68% of the stock is owned by insiders.

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.