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

Nuveen Asset Management LLC lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 13.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,692,711 shares of the software maker’s stock after selling 257,829 shares during the quarter. Nuveen Asset Management LLC’s holdings in Intuit were worth $1,063,869,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after buying an additional 353,185 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock worth $3,833,720,000 after acquiring an additional 132,384 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after acquiring an additional 620,559 shares during the period. Norges Bank purchased a new stake in shares of Intuit in the 4th quarter worth $2,290,419,000. Finally, Northern Trust Corp raised its holdings 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 during the period. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value 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. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 sale, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. 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. Mizuho boosted their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $717.53.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $656.80 on Wednesday. The company has a market cap of $183.62 billion, a P/E ratio of 63.77, 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. 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 firm’s fifty day moving average is $604.28 and its two-hundred day moving average is $618.26.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders 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 annualized dividend and a dividend yield of 0.63%. Intuit’s dividend payout ratio (DPR) is 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.