KFG Wealth Management LLC Sells 111 Shares of Intuit Inc. (NASDAQ:INTU)

KFG Wealth Management LLC lessened its stake in Intuit Inc. (NASDAQ:INTU) by 12.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 809 shares of the software maker’s stock after selling 111 shares during the quarter. KFG Wealth Management LLC’s holdings in Intuit were worth $526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INTU. Norges Bank bought a new stake in Intuit during the 4th quarter worth approximately $2,101,848,000. Wellington Management Group LLP increased its holdings in Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC bought a new stake in shares of Intuit in the fourth quarter valued at about $467,852,000. Parnassus Investments LLC lifted its holdings in shares of Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Intuit by 60,534.9% in the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after purchasing an additional 472,172 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the sale, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,937 shares of company stock valued at $113,123,232. 2.90% of the stock is owned by company insiders.

Intuit Trading Up 0.6 %

Shares of Intuit stock traded up $3.68 on Wednesday, hitting $659.90. 931,923 shares of the company’s stock traded hands, compared to its average volume of 1,343,425. The company has a fifty day moving average of $619.94 and a two-hundred day moving average of $628.97. Intuit Inc. has a one year low of $444.19 and a one year high of $676.62. The company has a market capitalization of $184.48 billion, a price-to-earnings ratio of 60.96, a price-to-earnings-growth ratio of 3.76 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping the consensus estimate of $8.12 by $1.76. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $7.80 EPS. As a group, sell-side analysts expect 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. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INTU. Piper Sandler upped their price target on Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. KeyCorp raised their price target on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Bank of America decreased their price objective on Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, Citigroup boosted their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $687.22.

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.