Watchman Group Inc. Sells 305 Shares of Intuit Inc. (NASDAQ:INTU)

Watchman Group Inc. reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,804 shares of the software maker’s stock after selling 305 shares during the quarter. Intuit accounts for about 1.3% of Watchman Group Inc.’s investment portfolio, making the stock its 19th largest holding. Watchman Group Inc.’s holdings in Intuit were worth $4,905,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. R Squared Ltd bought a new stake in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Citigroup lowered their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Mizuho increased their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, BNP Paribas downgraded shares of 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 given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction that occurred on 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 quarter, insiders sold 132,896 shares of company stock worth $82,946,716. Insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $598.92 on Friday. The company has a market capitalization of $167.44 billion, a PE ratio of 58.15, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. 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 company has a 50-day simple moving average of $595.90 and a two-hundred day simple moving average of $622.38.

Intuit Dividend Announcement

The firm also recently disclosed 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 payout ratio is currently 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.