Bleakley Financial Group LLC Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Bleakley Financial Group LLC reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,606 shares of the software maker’s stock after selling 107 shares during the period. Bleakley Financial Group LLC’s holdings in Intuit were worth $2,895,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of INTU. R Squared Ltd purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in Intuit during the third quarter worth $27,000. Heck Capital Advisors LLC acquired a new stake in Intuit during the fourth quarter worth $28,000. Sugar Maple Asset Management LLC acquired a new stake in Intuit during the fourth quarter worth $29,000. Finally, Denver PWM LLC acquired a new stake in Intuit during the third quarter worth $32,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 1,300 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the transaction, the chief financial officer now owns 644 shares in the company, valued at $403,414.48. This trade represents a 66.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley raised their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Finally, Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Up 0.3 %

Intuit stock opened at $590.20 on Friday. 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 current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $165.21 billion, a PE ratio of 57.30, a P/E/G ratio of 2.96 and a beta of 1.25. The stock’s fifty day moving average is $628.37 and its two-hundred day moving average is $632.37.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the firm earned $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) 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.