Intuit Inc. (NASDAQ:INTU) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN lowered its stake in Intuit Inc. (NASDAQ:INTU) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,228 shares of the software maker’s stock after selling 804 shares during the period. Patten & Patten Inc. TN’s holdings in Intuit were worth $11,456,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Avalon Trust Co increased its holdings in shares of Intuit by 12.7% in the fourth quarter. Avalon Trust Co now owns 177 shares of the software maker’s stock valued at $111,000 after purchasing an additional 20 shares during the period. Choate Investment Advisors increased its holdings in shares of Intuit by 6.5% in the fourth quarter. Choate Investment Advisors now owns 2,580 shares of the software maker’s stock valued at $1,622,000 after purchasing an additional 158 shares during the period. Diversified Enterprises LLC acquired a new position in shares of Intuit in the fourth quarter valued at approximately $200,000. Natixis Advisors LLC increased its holdings in shares of Intuit by 1.0% in the fourth quarter. Natixis Advisors LLC now owns 408,390 shares of the software maker’s stock valued at $256,673,000 after purchasing an additional 3,854 shares during the period. Finally, Harrington Investments INC increased its holdings in shares of Intuit by 3.2% in the fourth quarter. Harrington Investments INC now owns 4,785 shares of the software maker’s stock valued at $3,008,000 after purchasing an additional 148 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Mizuho upped their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report 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 report on Wednesday, February 26th. Finally, Stifel Nicolaus dropped their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. One investment 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, Intuit has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Up 3.0 %

INTU opened at $598.80 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $167.40 billion, a P/E ratio of 58.14, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The business’s fifty day simple moving average is $598.23 and its 200 day simple moving average is $623.61.

Intuit Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The sale 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 dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,301 shares of company stock valued at $121,470,200 over the last quarter. Insiders own 2.68% of the company’s stock.

Intuit Company 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.