Worldquant Millennium Advisors LLC Cuts Position in Intuit Inc. (NASDAQ:INTU)

Worldquant Millennium Advisors LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 60.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 39,638 shares of the software maker’s stock after selling 59,925 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Intuit were worth $24,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on INTU. Oppenheimer dropped their price objective on Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Citigroup dropped their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. UBS Group upped their price objective on Intuit from $655.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Mizuho upped 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. Finally, Morgan Stanley dropped their price objective on Intuit from $730.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average price target of $719.06.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of 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. Over the last quarter, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by company insiders.

Intuit Trading Up 0.0%

NASDAQ:INTU opened at $671.16 on Wednesday. The company has a market cap of $187.63 billion, a P/E ratio of 65.16, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The stock’s fifty day moving average price is $611.83 and its two-hundred day moving average price is $619.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The company also recently declared 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 of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. Intuit’s payout ratio is currently 38.81%.

Intuit Profile

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.