Vinva Investment Management Ltd Sells 2,305 Shares of Intuit Inc. (NASDAQ:INTU)

Vinva Investment Management Ltd lowered its position in Intuit Inc. (NASDAQ:INTU) by 19.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,436 shares of the software maker’s stock after selling 2,305 shares during the quarter. Vinva Investment Management Ltd’s holdings in Intuit were worth $5,948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in Intuit by 2.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker’s stock valued at $9,149,000 after acquiring an additional 388 shares in the last quarter. Quest Partners LLC boosted its position in Intuit by 203.7% during the 3rd quarter. Quest Partners LLC now owns 1,652 shares of the software maker’s stock valued at $1,026,000 after acquiring an additional 1,108 shares in the last quarter. OneAscent Wealth Management LLC bought a new stake in Intuit during the 3rd quarter valued at $242,000. Pathstone Holdings LLC boosted its position in Intuit by 0.6% during the 3rd quarter. Pathstone Holdings LLC now owns 54,609 shares of the software maker’s stock valued at $33,912,000 after acquiring an additional 330 shares in the last quarter. Finally, Caprock Group LLC boosted its position in Intuit by 0.3% during the 3rd quarter. Caprock Group LLC now owns 7,066 shares of the software maker’s stock valued at $4,388,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $599.03 on Wednesday. The stock has a market cap of $167.47 billion, a PE ratio of 58.16, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a 50-day simple moving average of $597.44 and a 200-day simple moving average of $623.29. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78.

Intuit Dividend Announcement

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

Insider Activity

In related news, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated 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 represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,646 shares of company stock valued at $72,494,045 in the last quarter. 2.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on INTU shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Redburn Atlantic started coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Citigroup lowered their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $721.61.

About Intuit

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.