Logan Capital Management Inc. Has $3.93 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Logan Capital Management Inc. reduced its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,245 shares of the software maker's stock after selling 666 shares during the quarter. Logan Capital Management Inc.'s holdings in Intuit were worth $3,925,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Czech National Bank raised its stake in Intuit by 6.7% during the fourth quarter. Czech National Bank now owns 60,773 shares of the software maker's stock worth $38,196,000 after acquiring an additional 3,827 shares in the last quarter. Aprio Wealth Management LLC raised its stake in Intuit by 12.6% during the fourth quarter. Aprio Wealth Management LLC now owns 509 shares of the software maker's stock worth $320,000 after acquiring an additional 57 shares in the last quarter. Crescent Sterling Ltd. raised its holdings in shares of Intuit by 12.6% in the fourth quarter. Crescent Sterling Ltd. now owns 573 shares of the software maker's stock valued at $360,000 after buying an additional 64 shares during the last quarter. Fiduciary Alliance LLC raised its holdings in shares of Intuit by 30.0% in the fourth quarter. Fiduciary Alliance LLC now owns 541 shares of the software maker's stock valued at $340,000 after buying an additional 125 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in shares of Intuit by 3.5% in the fourth quarter. Capital Investment Advisors LLC now owns 2,162 shares of the software maker's stock valued at $1,359,000 after buying an additional 73 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares of the company's stock, valued at $13,401,849.72. This represents a 27.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the company'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 value of $1,021,200.00. Following the transaction, the director now directly 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. Insiders sold 23,696 shares of company stock valued at $14,347,731 over the last quarter. Corporate insiders own 2.68% of the company's stock.

Intuit Stock Up 1.4%

INTU stock traded up $8.97 during mid-day trading on Friday, hitting $670.28. 1,555,132 shares of the company were exchanged, compared to its average volume of 1,610,084. 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. The firm's 50 day simple moving average is $608.44 and its 200 day simple moving average is $619.21. The firm has a market cap of $187.38 billion, a P/E ratio of 65.08, 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. Stockholders of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio is 38.81%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on INTU shares. 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. Morgan Stanley cut their price target on Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Citigroup cut their price target on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.