Robeco Institutional Asset Management B.V. Sells 86,878 Shares of Intuit Inc. (NASDAQ:INTU)

Robeco Institutional Asset Management B.V. lowered its holdings in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 24.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,596 shares of the software maker’s stock after selling 86,878 shares during the quarter. Intuit comprises about 0.9% of Robeco Institutional Asset Management B.V.’s investment portfolio, making the stock its 25th biggest position. Robeco Institutional Asset Management B.V. owned approximately 0.09% of Intuit worth $163,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. Level Four Advisory Services LLC raised its holdings in Intuit by 1.3% in the 4th quarter. Level Four Advisory Services LLC now owns 1,354 shares of the software maker’s stock worth $846,000 after acquiring an additional 18 shares during the period. Arjuna Capital bought a new position in Intuit in the 4th quarter worth $1,414,000. NorthRock Partners LLC raised its holdings in Intuit by 21.2% in the 4th quarter. NorthRock Partners LLC now owns 1,395 shares of the software maker’s stock worth $872,000 after acquiring an additional 244 shares during the period. WT Wealth Management raised its holdings in Intuit by 11.2% in the 4th quarter. WT Wealth Management now owns 3,151 shares of the software maker’s stock worth $1,970,000 after acquiring an additional 317 shares during the period. Finally, New Century Financial Group LLC bought a new position in Intuit in the 4th quarter worth $498,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Barclays raised their price target on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Piper Sandler raised their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Susquehanna raised their price target on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Finally, StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $657.95.

Check Out Our Latest Report on Intuit

Intuit Price Performance

NASDAQ:INTU traded up $7.81 on Friday, reaching $661.18. The stock had a trading volume of 774,761 shares, compared to its average volume of 1,102,347. The company has a market capitalization of $185.13 billion, a P/E ratio of 67.47, a price-to-earnings-growth ratio of 4.02 and a beta of 1.22. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $633.93 and a 200-day moving average price of $616.01.

Intuit (NASDAQ:INTUGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share. Research analysts forecast that Intuit Inc. will post 11.28 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is presently 36.73%.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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