CWA Asset Management Group LLC reduced its stake in Intuit Inc. (NASDAQ:INTU – Free Report) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,478 shares of the software maker’s stock after selling 391 shares during the period. CWA Asset Management Group LLC’s holdings in Intuit were worth $9,099,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. Fairway Wealth LLC bought a new position in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit in the 3rd quarter worth about $27,000. Denver PWM LLC bought a new stake in Intuit in the 3rd quarter valued at about $32,000. Dunhill Financial LLC boosted its position in Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after purchasing an additional 32 shares during the period. Finally, Trifecta Capital Advisors LLC increased its stake in shares of Intuit by 145.8% in the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after purchasing an additional 35 shares in the last quarter. 83.66% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on INTU. Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. boosted their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Piper Sandler lowered their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Morgan Stanley boosted their price target 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. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.
Insider Activity at Intuit
In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred 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 of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares in the company, valued at approximately $279,010.56. The trade was a 89.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 262,814 shares of company stock valued at $170,119,823 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.
Intuit Trading Up 0.1 %
NASDAQ INTU traded up $0.90 during trading hours on Monday, hitting $631.13. 326,916 shares of the company were exchanged, compared to its average volume of 815,184. 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 $176.66 billion, a PE ratio of 61.27, a price-to-earnings-growth ratio of 3.24 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. The stock has a 50-day moving average price of $649.04 and a 200 day moving average price of $638.38.
Intuit (NASDAQ:INTU – Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. Analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.
Intuit Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.66%. Intuit’s dividend payout ratio (DPR) 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.
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