Intuit Inc. (NASDAQ:INTU) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. lowered its position in Intuit Inc. (NASDAQ:INTU) by 0.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,147 shares of the software maker’s stock after selling 35 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Intuit were worth $6,377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Intuit in the fourth quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new stake in Intuit during the 3rd quarter valued at about $27,000. Heck Capital Advisors LLC acquired a new stake in Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Down 0.2 %

NASDAQ:INTU opened at $585.88 on Wednesday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock’s fifty day moving average is $625.25 and its two-hundred day moving average is $631.39. The stock has a market capitalization of $164.00 billion, a price-to-earnings ratio of 56.88, a price-to-earnings-growth ratio of 2.91 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.

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

Intuit Dividend Announcement

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

Analysts Set New Price Targets

INTU has been the subject of several recent research reports. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Activity at Intuit

In other Intuit 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 value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

About Intuit

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.