Nvwm LLC Reduces Position in Intuit Inc. (NASDAQ:INTU)

Nvwm LLC trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 93.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106 shares of the software maker’s stock after selling 1,550 shares during the period. Nvwm LLC’s holdings in Intuit were worth $67,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in Intuit in the 4th quarter worth $621,000. Harvest Portfolios Group Inc. raised its holdings in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares during the period. Retireful LLC purchased a new position in shares of Intuit in the third quarter valued at about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Intuit in the third quarter valued at about $56,144,000. 83.66% of the stock is owned by institutional investors.

Intuit Trading Down 0.6 %

INTU stock opened at $588.26 on Thursday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The stock has a market capitalization of $164.66 billion, a price-to-earnings ratio of 57.11, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $629.33 and its two-hundred day simple moving average is $632.68.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. As a group, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit’s payout ratio is 40.39%.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the sale, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 in the last 90 days. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Oppenheimer boosted their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Morgan Stanley lifted their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.