Intuit Inc. (NASDAQ:INTU) Shares Sold by Forsta AP Fonden

Forsta AP Fonden trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,000 shares of the software maker’s stock after selling 500 shares during the period. Forsta AP Fonden’s holdings in Intuit were worth $52,166,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Nordea Investment Management AB raised its position in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new position in shares of Intuit during the 4th quarter valued at approximately $621,000. Harvest Portfolios Group Inc. lifted its stake in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC boosted its holdings in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after buying an additional 968 shares in the last quarter. Finally, Retireful LLC acquired a new stake in Intuit during the third quarter valued at $740,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the 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 completion of the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’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 transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 over the last quarter. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of Intuit stock opened at $600.66 on Wednesday. The business’s 50 day moving average price is $634.37 and its 200 day moving average price is $634.55. The company has a market cap of $168.14 billion, a price-to-earnings ratio of 58.32, a PEG ratio of 3.01 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 one year low of $557.29 and a one year high of $714.78.

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

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus cut their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.