Bronfman E.L. Rothschild L.P. Sells 671 Shares of Intuit Inc. (INTU)
Bronfman E.L. Rothschild L.P. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 19.1% during the fourth quarter, Holdings Channel reports. The fund owned 2,846 shares of the software maker’s stock after selling 671 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Intuit were worth $449,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oakbrook Investments LLC grew its stake in shares of Intuit by 118.1% in the third quarter. Oakbrook Investments LLC now owns 21,425 shares of the software maker’s stock worth $3,045,000 after acquiring an additional 11,600 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Intuit by 0.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 375,423 shares of the software maker’s stock valued at $53,363,000 after buying an additional 1,870 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Intuit by 71.7% during the fourth quarter. Bank of Montreal Can now owns 471,620 shares of the software maker’s stock valued at $74,412,000 after buying an additional 196,911 shares during the last quarter. Asset Advisors Corp boosted its position in shares of Intuit by 2.5% during the third quarter. Asset Advisors Corp now owns 92,565 shares of the software maker’s stock valued at $13,157,000 after buying an additional 2,300 shares during the last quarter. Finally, IFM Investors Pty Ltd purchased a new stake in shares of Intuit during the third quarter valued at $959,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
Intuit Inc. (NASDAQ INTU) opened at $159.36 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67. Intuit Inc. has a 12 month low of $114.80 and a 12 month high of $170.59. The company has a market capitalization of $40,740.00, a PE ratio of 42.16, a PEG ratio of 2.83 and a beta of 1.19.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Tuesday, January 9th. Intuit’s dividend payout ratio (DPR) is currently 41.27%.
In other news, VP Mark J. Flournoy sold 13,424 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $155.56, for a total value of $2,088,237.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Scott D. Cook sold 183,334 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $151.46, for a total value of $27,767,767.64. The disclosure for this sale can be found here. Insiders sold 965,938 shares of company stock worth $149,469,127 in the last ninety days. Corporate insiders own 5.59% of the company’s stock.
Several research firms recently commented on INTU. Barclays increased their price objective on Intuit from $157.00 to $168.00 and gave the company an “equal weight” rating in a research report on Tuesday. Deutsche Bank increased their price objective on Intuit from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday. Oppenheimer increased their price objective on Intuit from $166.00 to $181.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Citigroup reaffirmed a “hold” rating and set a $170.00 price objective (up from $157.00) on shares of Intuit in a research report on Monday, January 29th. Finally, Zacks Investment Research raised Intuit from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. Intuit presently has an average rating of “Hold” and an average price target of $159.42.
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Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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