Meeder Advisory Services Inc. Has $3.77 Million Stake in Intuit Inc. (NASDAQ:INTU)

Meeder Advisory Services Inc. reduced its position in Intuit Inc. (NASDAQ:INTU) by 0.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,004 shares of the software maker’s stock after selling 47 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Intuit were worth $3,774,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Intuit in the 4th quarter valued at $2,290,419,000. Proficio Capital Partners LLC lifted its position in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the last quarter. Wellington Management Group LLP boosted its stake in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Raymond James Financial Inc. bought a new position in Intuit in the fourth quarter valued at about $300,854,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after acquiring an additional 353,185 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sasan K. Goodarzi sold 26,562 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the sale, the chief executive officer now owns 37,869 shares of the company’s stock, valued at $23,701,828.41. This trade represents a 41.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,896 shares of company stock worth $35,689,216. 2.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INTU. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Mizuho upped their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Jefferies Financial Group reduced their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research report on Monday. Finally, BMO Capital Markets dropped their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $718.00.

Intuit Stock Performance

Shares of Intuit stock opened at $613.78 on Wednesday. The business has a 50-day moving average price of $596.18 and a two-hundred day moving average price of $621.71. Intuit Inc. has a 1-year low of $553.24 and a 1-year 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 company has a market cap of $171.59 billion, a P/E ratio of 59.59, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend 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.