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ICICI Prudential Asset Management Co Ltd reduced its stake in Intuit Inc. (NASDAQ:INTU – Free Report) by 74.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,492 shares of the software maker’s stock after selling 7,378 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Intuit were worth $1,273,000 at the end of the most recent reporting period. A number of other large investors also recently modified their holdings of INTU. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Intuit by 99,673.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 157,291,233 shares of the software maker’s stock worth $72,069,270,000 after buying an additional 157,133,584 shares during the last quarter. Norges Bank acquired a new position in shares of Intuit during the fourth quarter worth approximately $1,173,468,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Intuit by 118,345.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock worth $812,767,000 after buying an additional 2,086,431 shares during the last quarter.

Analyst Upgrades and DowngradesA number of research analysts recently commented on the stock. Wells Fargo & Company upped their target price on Intuit from $575.00 to $615.00 and gave the company an “overweight” rating in a research note on Wednesday, November 29th. JPMorgan Chase & Co. upped their target price on Intuit from $410.00 to $470.00 and gave the company a “neutral” rating in a research note on Monday, November 27th. Four research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $587.67.

Get Intuit alerts:Sign Up Shares of INTU traded up $10.82 during trading hours on Friday, hitting $622.18. 1,334,432 shares of the stock traded hands, compared to its average volume of 949,643. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1-year low of $382.55 and a 1-year high of $631.07. The firm has a market capitalization of $174.15 billion, a PE ratio of 68.00, a price-to-earnings-growth ratio of 3.74 and a beta of 1.23. The business has a fifty day moving average of $591.86 and a 200-day moving average of $538.42.

Intuit (NASDAQ:INTU – Get Free Report) last issued its quarterly earnings results on Tuesday, November 28th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.49. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 11.26 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.58%. The ex-dividend date was Tuesday, January 9th.

In other news, CEO Sasan K. Goodarzi sold 93,641 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $569.02, for a total value of $53,283,601.82. Over the last quarter, insiders have sold 124,815 shares of company stock valued at $71,849,903. 2.90% of the stock is currently owned by company insiders.

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.

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Read more: ICICI Prudential Asset Management Co Ltd Has $1.27 Million Position in Intuit Inc. (NASDAQ:INTU)