Intuit Inc. (NASDAQ:INTU) Shares Sold by Valley Forge Capital Management LP

Valley Forge Capital Management LP cut its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 402,281 shares of the software maker's stock after selling 42,600 shares during the quarter. Intuit comprises about 5.6% of Valley Forge Capital Management LP's investment portfolio, making the stock its 6th largest position. Valley Forge Capital Management LP owned approximately 0.14% of Intuit worth $252,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in INTU. Norges Bank purchased a new position in Intuit during the 4th quarter valued at about $2,290,419,000. Proficio Capital Partners LLC raised 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 purchasing an additional 1,062,847 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Unisphere Establishment lifted its stake in Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after buying an additional 500,000 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. The trade was a 0.10% decrease in their position. The transaction 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 company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company's stock, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by company insiders.

Intuit Trading Up 0.1%

Shares of NASDAQ INTU opened at $670.86 on Tuesday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The company has a market cap of $187.55 billion, a price-to-earnings ratio of 65.13, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. 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 stock's 50 day simple moving average is $610.04 and its 200 day simple moving average is $619.55.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, April 10th. Intuit's payout ratio is 38.81%.

Analyst Ratings Changes

INTU has been the subject of a number of analyst reports. BMO Capital Markets cut their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Oppenheimer reduced their target price on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, Piper Sandler restated an "overweight" rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average price target of $720.16.

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.

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