Interchange Capital Partners LLC Sells 129 Shares of Intuit Inc. (NASDAQ:INTU)

Interchange Capital Partners LLC reduced its position in Intuit Inc. (NASDAQ:INTU) by 15.2% during the fourth quarter, HoldingsChannel reports. The firm owned 720 shares of the software maker’s stock after selling 129 shares during the period. Interchange Capital Partners LLC’s holdings in Intuit were worth $454,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Eagle Asset Management Inc. boosted its position in Intuit by 20.8% during the third quarter. Eagle Asset Management Inc. now owns 4,649 shares of the software maker’s stock valued at $3,181,000 after acquiring an additional 799 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Intuit by 28.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,576 shares of the software maker’s stock valued at $978,000 after purchasing an additional 353 shares in the last quarter. Penserra Capital Management LLC grew its stake in Intuit by 1.2% during the third quarter. Penserra Capital Management LLC now owns 2,890 shares of the software maker’s stock worth $1,793,000 after purchasing an additional 34 shares during the period. Swedbank AB increased its holdings in Intuit by 3.5% in the third quarter. Swedbank AB now owns 118,266 shares of the software maker’s stock worth $73,443,000 after purchasing an additional 4,035 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Intuit by 38.2% in the third quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock valued at $186,000 after buying an additional 83 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,733 shares of company stock valued at $77,947,205 in the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup lowered their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Scotiabank cut their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Stock Performance

NASDAQ INTU opened at $613.09 on Tuesday. The company has a fifty day moving average price of $596.08 and a 200-day moving average price of $622.74. The firm has a market cap of $171.40 billion, a price-to-earnings ratio of 59.52, a PEG ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given 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 dividend yield of 0.68%. Intuit’s dividend payout ratio is currently 38.81%.

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.