Clifford Swan Investment Counsel LLC Sells 602 Shares of Intuit Inc. (NASDAQ:INTU)

Clifford Swan Investment Counsel LLC reduced its position in Intuit Inc. (NASDAQ:INTU) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,847 shares of the software maker’s stock after selling 602 shares during the period. Intuit accounts for about 1.0% of Clifford Swan Investment Counsel LLC’s portfolio, making the stock its 26th largest position. Clifford Swan Investment Counsel LLC’s holdings in Intuit were worth $27,558,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. R Squared Ltd bought a new stake in shares of Intuit in the 4th quarter valued at about $25,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC acquired a new stake in Intuit in the 4th quarter worth approximately $29,000. Finally, Denver PWM LLC acquired a new stake in Intuit in the 3rd quarter worth approximately $32,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on INTU shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday. Finally, Citigroup lowered their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $717.88.

Intuit Price Performance

NASDAQ:INTU opened at $613.84 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $171.82 billion, a price-to-earnings ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a 50 day moving average price of $605.90 and a 200-day moving average price of $627.12. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Activity

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock valued at $140,855,687 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

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.