Cresset Asset Management LLC Has $19.13 Million Position in Intuit Inc. (NASDAQ:INTU)

Cresset Asset Management LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 56.2% during the 4th quarter, Holdings Channel reports. The firm owned 30,433 shares of the software maker’s stock after selling 39,094 shares during the period. Cresset Asset Management LLC’s holdings in Intuit were worth $19,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Intuit in the 4th quarter valued at $28,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the 4th quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the 4th quarter worth $28,000. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Shares of INTU opened at $626.55 on Wednesday. The firm has a market cap of $175.16 billion, a PE ratio of 60.83, a price-to-earnings-growth 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 business’s 50 day moving average price is $599.61 and its two-hundred day moving average price is $616.66.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley lowered their target price on Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Oppenheimer decreased their target price on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $717.53.

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.