Winthrop Advisory Group LLC Has $418,000 Stake in Intuit Inc. (NASDAQ:INTU)

Winthrop Advisory Group LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 665 shares of the software maker’s stock after selling 25 shares during the period. Winthrop Advisory Group LLC’s holdings in Intuit were worth $418,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter valued at $27,000. Denver PWM LLC bought a new position in Intuit in the 3rd quarter valued at $32,000. Dunhill Financial LLC boosted its position in Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares during the last quarter. Finally, Groupama Asset Managment boosted its position in Intuit by 10.6% in the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after buying an additional 720 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the transaction, the executive vice president now directly owns 33,916 shares in the company, valued at $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 291,936 shares of company stock worth $188,324,604. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. Oppenheimer raised their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research report on Friday. Finally, Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Down 0.8 %

Shares of NASDAQ:INTU traded down $5.23 during midday trading on Monday, reaching $618.20. The company had a trading volume of 132,537 shares, compared to its average volume of 1,165,801. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average price is $649.58 and its 200 day moving average price is $638.21. The stock has a market cap of $173.04 billion, a PE ratio of 60.02, a P/E/G ratio of 3.24 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. Research analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

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.