New Century Financial Group LLC Sells 221 Shares of Intuit Inc. (NASDAQ:INTU)

New Century Financial Group LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 18.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 986 shares of the software maker’s stock after selling 221 shares during the quarter. New Century Financial Group LLC’s holdings in Intuit were worth $621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its position in shares of Intuit by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker’s stock valued at $9,427,000 after buying an additional 186 shares during the last quarter. AlTi Global Inc. raised its holdings in shares of Intuit by 7.4% in the second quarter. AlTi Global Inc. now owns 784 shares of the software maker’s stock valued at $515,000 after acquiring an additional 54 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Intuit by 37.3% in the 2nd quarter. AQR Capital Management LLC now owns 50,487 shares of the software maker’s stock valued at $32,954,000 after acquiring an additional 13,721 shares during the period. APG Asset Management US Inc. increased its position in shares of Intuit by 2.1% during the second quarter. APG Asset Management US Inc. now owns 87,476 shares of the software maker’s stock worth $56,927,000 after purchasing an additional 1,838 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in Intuit by 4.0% during the 2nd quarter. APG Asset Management N.V. now owns 216,186 shares of the software maker’s stock worth $132,568,000 after purchasing an additional 8,262 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 1,300 shares of Intuit stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total transaction of $814,346.00. Following the transaction, the chief financial officer now directly owns 644 shares of the company’s stock, valued at approximately $403,414.48. This trade represents a 66.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. raised their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Price Performance

NASDAQ:INTU opened at $598.30 on Friday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The firm’s 50-day simple moving average is $640.53 and its 200 day simple moving average is $635.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $167.48 billion, a price-to-earnings ratio of 58.09, a P/E/G ratio of 3.01 and a beta of 1.25.

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

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio is currently 40.39%.

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.