Nuveen Asset Management LLC Sells 257,829 Shares of Intuit Inc. (NASDAQ:INTU)

Nuveen Asset Management LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 13.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,692,711 shares of the software maker's stock after selling 257,829 shares during the quarter. Nuveen Asset Management LLC owned about 0.60% of Intuit worth $1,063,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. Aprio Wealth Management LLC raised its position in shares of 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 purchasing an additional 57 shares during the period. Fiduciary Alliance LLC grew its stake 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 acquiring an additional 125 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of Intuit by 3.5% during the fourth quarter. Capital Investment Advisors LLC now owns 2,162 shares of the software maker's stock worth $1,359,000 after buying an additional 73 shares during the last quarter. Eastern Bank boosted its position in shares of Intuit by 2.7% during the 4th quarter. Eastern Bank now owns 1,470 shares of the software maker's stock valued at $924,000 after purchasing an additional 39 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in Intuit by 7.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 4,239 shares of the software maker's stock worth $2,664,000 after buying an additional 311 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of NASDAQ INTU traded up $2.39 during mid-day trading on Monday, hitting $672.67. 342,063 shares of the stock were exchanged, compared to its average volume of 1,605,184. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. 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 company has a market cap of $188.05 billion, a P/E ratio of 65.26, a PEG ratio of 2.85 and a beta of 1.24. The stock's fifty day simple moving average is $608.44 and its two-hundred day simple moving average is $619.21.

Intuit Announces Dividend

The company 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 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 (DPR) is 38.81%.

Analyst Ratings Changes

A number of research firms have weighed in on INTU. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and raised their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. UBS Group upped their price objective on Intuit from $655.00 to $720.00 and gave the stock a "neutral" rating in a research report on Friday. Oppenheimer cut their price target on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $720.16.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed 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 dated 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 transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock worth $14,347,731 over the last quarter. Company insiders own 2.68% of the company's stock.

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.