Braun Bostich & Associates Inc. Has $234,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Braun Bostich & Associates Inc. decreased its stake in Intuit Inc. (NASDAQ:INTU) by 6.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 373 shares of the software maker’s stock after selling 25 shares during the quarter. Braun Bostich & Associates Inc.’s holdings in Intuit were worth $234,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of INTU. Eads & Heald Wealth Management boosted its position in Intuit by 0.7% during the fourth quarter. Eads & Heald Wealth Management now owns 2,761 shares of the software maker’s stock valued at $1,735,000 after purchasing an additional 20 shares during the last quarter. Barlow Wealth Partners Inc. raised its stake in shares of Intuit by 3.1% during the 4th quarter. Barlow Wealth Partners Inc. now owns 17,305 shares of the software maker’s stock worth $10,754,000 after purchasing an additional 517 shares in the last quarter. XML Financial LLC lifted its holdings in shares of Intuit by 20.1% during the 4th quarter. XML Financial LLC now owns 395 shares of the software maker’s stock valued at $248,000 after buying an additional 66 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Intuit by 33.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 160,405 shares of the software maker’s stock valued at $100,815,000 after buying an additional 40,633 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its holdings in Intuit by 12.1% in the fourth quarter. Simon Quick Advisors LLC now owns 1,865 shares of the software maker’s stock worth $1,172,000 after buying an additional 202 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on INTU. Morgan Stanley lifted their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Activity

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was 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 directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

NASDAQ:INTU opened at $609.41 on Wednesday. The firm’s 50-day moving average is $644.23 and its 200-day moving average is $636.37. The company has a market cap of $170.59 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 2.98 and a beta of 1.25. 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 Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results 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 analyst estimates of $3.14 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Intuit Company 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.