Worldquant Millennium Advisors LLC Has $24.91 Million Position in Intuit Inc. (NASDAQ:INTU)

Worldquant Millennium Advisors LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 60.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whalen Wealth Management Inc. acquired a new position in Intuit during the 4th quarter worth about $621,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after purchasing an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. lifted its stake in shares of Intuit by 3.8% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after purchasing an additional 1,602 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Intuit by 10.2% in the 4th quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker’s stock valued at $13,906,000 after purchasing an additional 2,055 shares during the period. Finally, Capitolis Liquid Global Markets LLC acquired a new position in shares of Intuit in the 4th quarter valued at about $109,988,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU opened at $671.16 on Wednesday. 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 stock has a 50 day moving average price of $611.83 and a two-hundred day moving average price of $619.91. The firm has a market capitalization 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 52 week low of $532.65 and a 52 week high of $714.78.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTU. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. 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. Finally, UBS Group boosted 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $719.06.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the business’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 transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This represents a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,696 shares of company stock valued at $14,347,731. Corporate insiders own 2.68% of the company’s stock.

Intuit Company 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.