Perfromance Wealth Partners LLC Decreases Position in Intuit Inc. (NASDAQ:INTU)

Perfromance Wealth Partners LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 666 shares of the software maker’s stock after selling 56 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Intuit were worth $419,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the third quarter valued at approximately $27,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $29,000. Denver PWM LLC acquired a new stake in shares of Intuit in the third quarter valued at approximately $32,000. Dunhill Financial LLC boosted its holdings in shares of Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after acquiring an additional 32 shares during the period. Finally, Groupama Asset Managment boosted its holdings in shares of Intuit by 10.6% in the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after acquiring an additional 720 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.9 %

Shares of INTU stock opened at $609.41 on Wednesday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a market cap of $170.59 billion, a P/E ratio of 59.17, a P/E/G ratio of 2.98 and a beta of 1.25. The business has a fifty day simple moving average of $644.23 and a 200-day simple moving average of $636.37. 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 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 business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors 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 yield of 0.68%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INTU. Piper Sandler reissued an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Jefferies Financial Group increased their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Scotiabank began coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.