Baldwin Wealth Partners LLC MA Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Baldwin Wealth Partners LLC MA reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 34.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 843 shares of the software maker’s stock after selling 446 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Intuit were worth $530,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of INTU. Brown Financial Advisors boosted its holdings in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after buying an additional 15 shares in the last quarter. Truvestments Capital LLC raised its position 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 acquiring an additional 16 shares during the period. Aviso Wealth Management boosted its stake in shares of Intuit by 4.9% during the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock worth $238,000 after acquiring an additional 17 shares in the last quarter. CVA Family Office LLC grew its position in shares of Intuit by 3.3% during the 3rd 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. Finally, Chris Bulman Inc increased its stake in shares of Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after purchasing an additional 17 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on INTU shares. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. Morgan Stanley boosted 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. Scotiabank started coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of Intuit stock opened at $605.22 on Monday. The firm has a market cap of $169.41 billion, a PE ratio of 58.67, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. 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 Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The business’s fifty day simple moving average is $636.69 and its 200-day simple moving average is $635.00.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Intuit’s revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s dividend payout ratio is currently 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.