Intuit Inc. (NASDAQ:INTU) Shares Sold by Cyrus J. Lawrence LLC

Cyrus J. Lawrence LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,859 shares of the software maker’s stock after selling 30 shares during the quarter. Intuit accounts for 1.7% of Cyrus J. Lawrence LLC’s portfolio, making the stock its 26th largest position. Cyrus J. Lawrence LLC’s holdings in Intuit were worth $8,710,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Intuit during the 4th quarter valued at approximately $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Intuit stock opened at $604.04 on Friday. The firm’s 50 day simple moving average is $596.08 and its 200-day simple moving average is $622.81. The company has a market cap of $168.87 billion, a P/E ratio of 58.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Piper Sandler reiterated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Scotiabank lowered their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Transactions at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 117,348 shares of company stock valued at $73,515,245 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

About Intuit

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.