Intuit Inc. (NASDAQ:INTU) Shares Sold by HBW Advisory Services LLC

HBW Advisory Services LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 24.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 739 shares of the software maker’s stock after selling 241 shares during the quarter. HBW Advisory Services LLC’s holdings in Intuit were worth $464,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in INTU. Brown Financial Advisors grew its position in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares during the period. Truvestments Capital LLC boosted its stake in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after buying an additional 16 shares during the last quarter. Plancorp LLC grew its holdings in Intuit by 2.0% during the second quarter. Plancorp LLC now owns 881 shares of the software maker’s stock worth $579,000 after acquiring an additional 17 shares during the period. Aviso Wealth Management raised its position in Intuit by 4.9% during the second quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after acquiring an additional 17 shares in the last quarter. Finally, CVA Family Office LLC lifted its holdings in Intuit by 3.3% in the third quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock valued at $330,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 291,936 shares of company stock valued at $188,324,604. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent research reports. Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday. Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Down 0.4 %

Shares of NASDAQ INTU opened at $623.43 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $649.58 and a 200 day moving average of $638.15. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market cap of $174.51 billion, a PE ratio of 60.53, a P/E/G ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s payout ratio is 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.