Sendero Wealth Management LLC Sells 847 Shares of Intuit Inc. (NASDAQ:INTU)

Sendero Wealth Management LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 8.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,690 shares of the software maker’s stock after selling 847 shares during the period. Intuit accounts for 1.0% of Sendero Wealth Management LLC’s holdings, making the stock its 23rd biggest position. Sendero Wealth Management LLC’s holdings in Intuit were worth $5,648,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in INTU. O Shaughnessy Asset Management LLC lifted its stake in Intuit by 42.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 18,523 shares of the software maker’s stock valued at $9,464,000 after buying an additional 5,484 shares during the period. Mutual Advisors LLC grew its stake in Intuit by 69.9% in the 3rd quarter. Mutual Advisors LLC now owns 1,967 shares of the software maker’s stock valued at $1,005,000 after purchasing an additional 809 shares during the period. Valley National Advisers Inc. lifted its position in shares of Intuit by 50.3% during the 3rd quarter. Valley National Advisers Inc. now owns 227 shares of the software maker’s stock valued at $116,000 after buying an additional 76 shares during the last quarter. Trustmark National Bank Trust Department purchased a new position in shares of Intuit during the 3rd quarter valued at $220,000. Finally, Bamco Inc. NY lifted its position in shares of Intuit by 12.8% during the 3rd quarter. Bamco Inc. NY now owns 12,403 shares of the software maker’s stock valued at $6,337,000 after buying an additional 1,412 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now owns 869 shares in the company, valued at approximately $525,380.02. The disclosure for this sale can be found here. Insiders sold a total of 193,937 shares of company stock valued at $113,123,232 in the last three months. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on INTU shares. Citigroup increased their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley increased their price objective on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Erste Group Bank restated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Piper Sandler raised their target price on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $683.91.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $5.77 during trading on Friday, reaching $657.21. 1,753,974 shares of the company’s stock traded hands, compared to its average volume of 1,351,102. Intuit Inc. has a fifty-two week low of $444.19 and a fifty-two week high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm has a market cap of $183.72 billion, a PE ratio of 60.63, a P/E/G ratio of 3.66 and a beta of 1.21. The company has a 50-day simple moving average of $618.61 and a 200-day simple moving average of $627.92.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company posted $7.80 EPS. As a group, analysts predict that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a $0.90 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

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.