Moody Lynn & Lieberson LLC Lowers Holdings in Intuit Inc. (NASDAQ:INTU)

Moody Lynn & Lieberson LLC reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 70.4% in the fourth quarter, Holdings Channel reports. The firm owned 1,654 shares of the software maker’s stock after selling 3,930 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Intuit were worth $1,040,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the fourth quarter worth about $29,000. Denver PWM LLC bought a new position in shares of Intuit in the third quarter worth approximately $32,000. Dunhill Financial LLC raised its stake in 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 purchasing an additional 32 shares in the last quarter. Finally, Groupama Asset Managment lifted its position in Intuit by 10.6% during the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after purchasing an additional 720 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on INTU shares. Piper Sandler reissued an “overweight” rating and issued a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $597.95 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $636.69 and a 200-day moving average price of $635.10. The company has a market cap of $167.38 billion, a price-to-earnings ratio of 58.05, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 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 analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders 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 0.70%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s 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.