Adage Capital Partners GP L.L.C. Sells 1,400 Shares of Intuit Inc. (NASDAQ:INTU)

Adage Capital Partners GP L.L.C. decreased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,100 shares of the software maker's stock after selling 1,400 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Intuit worth $153,417,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the period. Summit Securities Group LLC purchased a new position in Intuit in the fourth quarter valued at $28,000. Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was 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 of the company's stock, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction that occurred on 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 sale, the director now directly owns 8 shares of the company's stock, valued at $4,800. This represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of Intuit stock traded down $8.40 during trading on Monday, hitting $615.72. The stock had a trading volume of 591,046 shares, compared to its average volume of 1,577,665. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business has a fifty day moving average of $593.48 and a two-hundred day moving average of $616.08. The firm has a market cap of $172.13 billion, a P/E ratio of 59.76, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit's dividend payout ratio is currently 38.81%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on INTU shares. JPMorgan Chase & Co. raised shares of Intuit from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Oppenheimer decreased their target price on Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Jefferies Financial Group lowered their price objective on shares of Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Mizuho raised their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average price target of $717.53.

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.