Intuit Inc. (NASDAQ:INTU) Shares Sold by Wendell David Associates Inc.

Wendell David Associates Inc. lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,853 shares of the software maker’s stock after selling 146 shares during the quarter. Intuit accounts for about 2.5% of Wendell David Associates Inc.’s portfolio, making the stock its 10th biggest position. Wendell David Associates Inc.’s holdings in Intuit were worth $25,048,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of Intuit during the third quarter worth about $27,000. Sugar Maple Asset Management LLC bought a new stake in Intuit in the 4th quarter valued at approximately $29,000. Denver PWM LLC acquired a new position in Intuit during the 3rd quarter worth approximately $32,000. Dunhill Financial LLC grew its stake in shares of Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after acquiring an additional 32 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Intuit in the second quarter valued at approximately $49,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the sale, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by insiders.

Intuit Stock Performance

Shares of Intuit stock opened at $611.68 on Thursday. The company has a 50 day moving average of $642.42 and a 200-day moving average of $635.95. The company has a market cap of $171.22 billion, a PE ratio of 59.39, a price-to-earnings-growth ratio of 3.00 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

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

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued 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 yield of 0.68%. Intuit’s payout ratio is presently 40.39%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INTU. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Finally, Stifel Nicolaus dropped their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note 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 issued a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

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.