Intuit Inc. (NASDAQ:INTU) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 93.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,315 shares of the software maker's stock after selling 335,519 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Intuit were worth $14,653,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Intuit in the 4th quarter worth about $2,290,419,000. Proficio Capital Partners LLC raised its stake in Intuit by 112,233.1% in 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 in the last quarter. Wellington Management Group LLP raised its stake in Intuit by 13.3% in 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 in the last quarter. Unisphere Establishment raised 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 worth $942,750,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Insiders Place Their Bets

In other news, 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 value of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INTU. Citigroup dropped their price objective on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised shares of Intuit from a "neutral" rating to an "overweight" rating and raised their target price for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Piper Sandler reissued an "overweight" rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Morgan Stanley decreased their target price on shares of Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $717.53.

Intuit Trading Up 1.3%

NASDAQ INTU traded up $8.48 on Thursday, hitting $661.31. 1,547,912 shares of the stock were exchanged, compared to its average volume of 1,604,350. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a fifty day moving average price of $605.14 and a two-hundred day moving average price of $618.50. The firm has a market capitalization of $184.88 billion, a P/E ratio of 64.20, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.63%. Intuit's dividend payout ratio is presently 38.81%.

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.