EFG Asset Management North America Corp. Sells 1,839 Shares of Intuit Inc. (NASDAQ:INTU)

EFG Asset Management North America Corp. cut its holdings in Intuit Inc. (NASDAQ:INTU) by 29.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,413 shares of the software maker’s stock after selling 1,839 shares during the period. EFG Asset Management North America Corp.’s holdings in Intuit were worth $2,774,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Brown Financial Advisors boosted its holdings in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares in the last quarter. True North Advisors LLC lifted its position in Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after acquiring an additional 17 shares during the period. Great Diamond Partners LLC boosted its stake in Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after acquiring an additional 17 shares in the last quarter. RB Capital Management LLC grew its holdings in Intuit by 0.6% in the third quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock worth $1,968,000 after purchasing an additional 18 shares during the period. Finally, Pacifica Partners Inc. increased its stake in shares of Intuit by 27.7% during the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after purchasing an additional 18 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INTU. Piper Sandler reissued an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Scotiabank dropped their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Mizuho upped their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets reduced their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Buying and Selling at Intuit

In related news, EVP Mark P. Notarainni sold 363 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $228,145.50. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $11,941.50. The trade was a 95.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,896 shares of company stock valued at $82,946,716. Insiders own 2.68% of the company’s stock.

Intuit Trading Up 0.9 %

Shares of NASDAQ:INTU opened at $618.72 on Wednesday. The stock’s 50-day simple moving average is $595.97 and its two-hundred day simple moving average is $622.76. The stock has a market capitalization of $172.97 billion, a price-to-earnings ratio of 60.07, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52-week low of $553.24 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.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 38.81%.

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.