Boston Common Asset Management LLC Reduces Stock Position in Intuit Inc. (NASDAQ:INTU)

Boston Common Asset Management LLC cut its stake in Intuit Inc. (NASDAQ:INTU) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,574 shares of the software maker’s stock after selling 131 shares during the quarter. Boston Common Asset Management LLC’s holdings in Intuit were worth $22,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brown Financial Advisors lifted its stake in Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares in the last quarter. Truvestments Capital LLC raised its position in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after buying an additional 16 shares in the last quarter. Aviso Wealth Management boosted its stake in Intuit by 4.9% during the second quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after buying an additional 17 shares during the period. CVA Family Office LLC grew its position in Intuit by 3.3% during the third quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after buying an additional 17 shares in the last quarter. Finally, Chris Bulman Inc increased its stake in Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after acquiring an additional 17 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 in the last 90 days. Insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.3 %

Shares of NASDAQ:INTU traded down $1.63 during trading on Friday, reaching $605.64. 297,876 shares of the company traded hands, compared to its average volume of 1,477,822. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a market capitalization of $169.53 billion, a price-to-earnings ratio of 58.93, a P/E/G ratio of 3.07 and a beta of 1.25. The business’s fifty day moving average is $649.03 and its 200-day moving average is $637.60.

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

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio is presently 40.39%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTU. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Barclays dropped their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock 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.