SouthState Corp Sells 77 Shares of Intuit Inc. (NASDAQ:INTU)

SouthState Corp cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 536 shares of the software maker’s stock after selling 77 shares during the period. SouthState Corp’s holdings in Intuit were worth $335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aveo Capital Partners LLC bought a new stake in Intuit during the 4th quarter worth approximately $203,000. Los Angeles Capital Management LLC raised its holdings in Intuit by 28.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 149,261 shares of the software maker’s stock valued at $93,293,000 after acquiring an additional 32,748 shares during the period. Natixis Advisors L.P. lifted its position in shares of Intuit by 3.5% in the fourth quarter. Natixis Advisors L.P. now owns 298,939 shares of the software maker’s stock valued at $186,846,000 after acquiring an additional 10,181 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Intuit by 7.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 63,162 shares of the software maker’s stock worth $39,479,000 after purchasing an additional 4,557 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Intuit by 9.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock valued at $1,946,943,000 after purchasing an additional 270,414 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Susquehanna boosted their target price on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Evercore ISI raised their target price on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

Insider Activity

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,717 shares of company stock worth $3,117,156. Company insiders own 2.90% of the company’s stock.

Intuit Trading Up 2.5 %

Shares of NASDAQ INTU traded up $15.23 during mid-day trading on Friday, reaching $629.27. The company had a trading volume of 1,109,512 shares, compared to its average volume of 1,209,705. The stock has a market cap of $176.20 billion, a price-to-earnings ratio of 64.21, a price-to-earnings-growth ratio of 3.74 and a beta of 1.22. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The business’s 50-day moving average is $638.17 and its 200-day moving average is $605.07. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. Equities analysts expect that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

About Intuit

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.