Two Point Capital Management Inc. Sells 19 Shares of Intuit Inc. (NASDAQ:INTU)

Two Point Capital Management Inc. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,700 shares of the software maker’s stock after selling 19 shares during the quarter. Intuit comprises 2.3% of Two Point Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Two Point Capital Management Inc.’s holdings in Intuit were worth $6,521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its stake in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC raised its stake in Intuit by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after purchasing an additional 80,463 shares in the last quarter. Fisher Asset Management LLC raised its stake in Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after purchasing an additional 87,517 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Intuit by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after purchasing an additional 26,914 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 1.6 %

Shares of NASDAQ INTU opened at $576.54 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a 50 day moving average price of $624.25 and a two-hundred day moving average price of $631.05. The stock has a market cap of $161.39 billion, a P/E ratio of 55.97, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24.

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

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on INTU shares. Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. 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 report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley upped their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Finally, 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. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. 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 the firm’s 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 completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last three months. 2.68% of the stock is owned by company insiders.

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.