Intuit Inc. (NASDAQ:INTU) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 14.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 661 shares of the software maker’s stock after selling 111 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Intuit were worth $415,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares in the last quarter. Holocene Advisors LP raised its holdings in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Finally, State Street Corp grew its position in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during 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, CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the transaction, the chief executive officer now owns 37,869 shares in the company, valued at approximately $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 in the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.5 %

NASDAQ:INTU opened at $604.13 on Tuesday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a fifty day moving average price of $646.09 and a two-hundred day moving average price of $636.77. The stock has a market capitalization of $169.11 billion, a price-to-earnings ratio of 58.65, a PEG ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal 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 paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Morgan Stanley increased their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.