Signature Estate & Investment Advisors LLC Trims Stake in Intuit Inc. (NASDAQ:INTU)

Signature Estate & Investment Advisors LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 47.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 733 shares of the software maker’s stock after selling 657 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Intuit were worth $461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of INTU. Zions Bancorporation N.A. boosted its holdings in Intuit by 40.6% during the 4th quarter. Zions Bancorporation N.A. now owns 8,099 shares of the software maker’s stock valued at $5,090,000 after acquiring an additional 2,338 shares during the period. FineMark National Bank & Trust lifted its position in shares of Intuit by 1.8% during the fourth quarter. FineMark National Bank & Trust now owns 1,509 shares of the software maker’s stock worth $948,000 after purchasing an additional 27 shares during the last quarter. Ashton Thomas Securities LLC boosted its stake in shares of Intuit by 2.6% during the fourth quarter. Ashton Thomas Securities LLC now owns 1,558 shares of the software maker’s stock valued at $979,000 after purchasing an additional 40 shares during the period. Modern Wealth Management LLC bought a new position in shares of Intuit in the fourth quarter worth about $249,000. Finally, CoreFirst Bank & Trust purchased a new position in Intuit in the 4th quarter worth about $529,000. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,896 shares of company stock valued at $82,946,716. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Shares of INTU stock opened at $614.86 on Thursday. 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 company has a market cap of $171.89 billion, a PE ratio of 59.70, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The business’s fifty day simple moving average is $595.84 and its 200-day simple moving average is $622.71.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analysts Set New Price Targets

A number of brokerages have commented on INTU. Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. 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, February 26th. Scotiabank decreased their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.