Intuit Inc. (NASDAQ:INTU) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV trimmed its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,616 shares of the software maker's stock after selling 13,125 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Intuit were worth $18,614,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. bought a new stake in shares of Intuit during the 4th quarter valued at about $621,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after acquiring an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. increased its stake in Intuit by 3.8% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock worth $27,223,000 after buying an additional 1,602 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its holdings in Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock valued at $15,502,000 after buying an additional 12,916 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on INTU. Mizuho lifted their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. Morgan Stanley lowered their price objective on shares of Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Oppenheimer reduced their price objective on Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. BNP Paribas downgraded shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $717.53.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $7.52 during midday trading on Wednesday, hitting $634.07. The stock had a trading volume of 276,617 shares, compared to its average volume of 1,579,202. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. 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 has a 50 day moving average price of $599.61 and a two-hundred day moving average price of $616.66. The company has a market capitalization of $177.26 billion, a PE ratio of 61.63, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction 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 sale, the director now owns 8 shares of the company's stock, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by company insiders.

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.