Blue Trust Inc. Reduces Stake in Intuit Inc. (NASDAQ:INTU)

Blue Trust Inc. lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 52.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,048 shares of the software maker’s stock after selling 1,146 shares during the quarter. Blue Trust Inc.’s holdings in Intuit were worth $659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in Intuit by 83.2% in 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 period. Whalen Wealth Management Inc. purchased a new stake in Intuit in the 4th quarter worth approximately $621,000. Harvest Portfolios Group Inc. raised its position in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares in the last quarter. Retireful LLC bought a new position in shares of Intuit in the 3rd quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intuit in the 3rd quarter worth approximately $56,144,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 0.6 %

Intuit stock opened at $587.38 on Monday. The firm has a market cap of $164.42 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. 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 stock has a fifty day simple moving average of $620.21 and a two-hundred day simple moving average of $629.97.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS. Equities analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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 $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Analyst Ratings Changes

INTU has been the subject of several research reports. BNP Paribas lowered 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. Stifel Nicolaus decreased their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Finally, Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit 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 owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % 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 ninety days. Insiders own 2.68% of the company’s stock.

Intuit Company 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.