Blue Trust Inc. decreased its position in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 52.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,048 shares of the software maker’s stock after selling 1,146 shares during the quarter. Blue Trust Inc.’s holdings in Intuit were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Intuit during the third quarter valued at approximately $27,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $29,000. Institutional investors own 83.66% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on INTU shares. Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $726.53.
Insider Transactions at Intuit
In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the completion of the transaction, the chief executive officer now owns 37,869 shares of the company’s stock, valued at $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by corporate insiders.
Intuit Price Performance
Shares of NASDAQ INTU opened at $587.38 on Monday. The firm has a market capitalization of $164.42 billion, a P/E ratio of 57.03, a P/E/G ratio of 2.91 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $620.21 and its two-hundred day simple moving average is $629.97. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.
Intuit (NASDAQ:INTU – Get Free Report) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.
Intuit Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s 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.
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