Hyperion Asset Management Ltd Cuts Holdings in Intuit Inc. (NASDAQ:INTU)

Hyperion Asset Management Ltd reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,946 shares of the software maker's stock after selling 1,605 shares during the period. Intuit makes up 3.1% of Hyperion Asset Management Ltd's holdings, making the stock its 11th largest position. Hyperion Asset Management Ltd owned approximately 0.05% of Intuit worth $92,356,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Gen Wealth Partners Inc increased its holdings in shares of Intuit by 29.5% in the fourth quarter. Gen Wealth Partners Inc now owns 1,235 shares of the software maker's stock valued at $776,000 after purchasing an additional 281 shares during the period. Graham Capital Management L.P. increased its holdings in shares of Intuit by 15.0% in the fourth quarter. Graham Capital Management L.P. now owns 1,150 shares of the software maker's stock valued at $723,000 after purchasing an additional 150 shares during the period. Focus Partners Wealth increased its holdings in shares of Intuit by 1.7% in the fourth quarter. Focus Partners Wealth now owns 146,116 shares of the software maker's stock valued at $91,912,000 after purchasing an additional 2,401 shares during the period. Fullerton Fund Management Co Ltd. increased its holdings in shares of Intuit by 57.3% in the fourth quarter. Fullerton Fund Management Co Ltd. now owns 3,348 shares of the software maker's stock valued at $2,104,000 after purchasing an additional 1,220 shares during the period. Finally, Ensign Peak Advisors Inc increased its holdings in shares of Intuit by 10.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 172,482 shares of the software maker's stock valued at $108,405,000 after purchasing an additional 16,073 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $8.76 during trading on Friday, reaching $670.07. The stock had a trading volume of 739,991 shares, compared to its average volume of 1,816,364. The business has a fifty day moving average price of $606.77 and a 200-day moving average price of $618.84. The stock has a market cap of $187.32 billion, a PE ratio of 65.06, a PEG ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78.

Intuit Announces Dividend

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

Analyst Ratings Changes

INTU has been the topic of a number of research reports. Morgan Stanley cut their price objective on Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Oppenheimer dropped their target price on Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, BMO Capital Markets dropped their target price on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $717.53.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 over the last quarter. 2.68% of the stock is currently owned by company insiders.

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.