Dynamic Advisor Solutions LLC Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

Dynamic Advisor Solutions LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,219 shares of the software maker’s stock after selling 239 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Intuit were worth $5,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in Intuit by 37.3% in the second quarter. AQR Capital Management LLC now owns 50,487 shares of the software maker’s stock worth $32,954,000 after acquiring an additional 13,721 shares in the last quarter. MBB Public Markets I LLC raised its position in shares of Intuit by 1,975.7% in the 2nd quarter. MBB Public Markets I LLC now owns 19,906 shares of the software maker’s stock worth $13,082,000 after purchasing an additional 18,947 shares during the last quarter. Legal & General Group Plc boosted its stake in Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after purchasing an additional 23,995 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its position in Intuit by 29.8% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 3,119 shares of the software maker’s stock valued at $2,050,000 after purchasing an additional 716 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc increased its stake in Intuit by 3.1% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 12,969 shares of the software maker’s stock valued at $8,523,000 after purchasing an additional 396 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by insiders.

Intuit Stock Performance

Shares of INTU opened at $597.95 on Friday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock has a market cap of $167.38 billion, a price-to-earnings ratio of 58.05, a PEG ratio of 3.01 and a beta of 1.25. The business has a 50-day simple moving average of $636.69 and a two-hundred day simple moving average of $635.10. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. On average, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a 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 note on Friday, January 10th. Finally, BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

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.