Intuit Inc. (NASDAQ:INTU) Shares Sold by Comerica Bank

Comerica Bank lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,209 shares of the software maker's stock after selling 3,792 shares during the quarter. Comerica Bank's holdings in Intuit were worth $56,068,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of INTU. True North Advisors LLC boosted its position in shares of Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker's stock valued at $257,000 after purchasing an additional 17 shares during the period. Great Diamond Partners LLC lifted its stake in Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock valued at $394,000 after buying an additional 17 shares during the last quarter. Pacifica Partners Inc. boosted its holdings in shares of Intuit by 27.7% in the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker's stock valued at $52,000 after acquiring an additional 18 shares during the period. Drive Wealth Management LLC grew its position in shares of Intuit by 2.4% during the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock worth $478,000 after acquiring an additional 18 shares during the last quarter. Finally, NewSquare Capital LLC increased its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 in the last 90 days. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley lowered their price objective on shares of Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research report on Wednesday, April 23rd. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and an average target price of $717.53.

Intuit Price Performance

Shares of INTU traded up $8.49 on Friday, reaching $631.68. The stock had a trading volume of 1,367,187 shares, compared to its average volume of 1,582,510. The firm has a 50-day moving average of $598.96 and a 200 day moving average of $616.36. The firm has a market capitalization of $176.59 billion, a PE ratio of 61.33, a PEG ratio of 2.85 and a beta of 1.25. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, April 10th. 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.