Intuit Inc. (NASDAQ:INTU) Shares Sold by SVB Wealth LLC

SVB Wealth LLC decreased its stake in Intuit Inc. (NASDAQ:INTU) by 20.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,075 shares of the software maker’s stock after selling 4,404 shares during the period. SVB Wealth LLC’s holdings in Intuit were worth $10,672,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in Intuit during the 3rd quarter worth $51,000. V Square Quantitative Management LLC lifted its stake in shares of Intuit by 18.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after acquiring an additional 482 shares during the period. Compagnie Lombard Odier SCmA lifted its stake in shares of Intuit by 27.5% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after purchasing an additional 1,900 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of Intuit by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after purchasing an additional 2,074 shares during the period. Finally, Hixon Zuercher LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $1,292,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 0.4 %

NASDAQ:INTU traded up $2.47 during mid-day trading on Tuesday, reaching $614.59. The stock had a trading volume of 247,816 shares, compared to its average volume of 1,237,387. The business’s 50 day moving average is $645.96 and its 200 day moving average is $597.57. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The stock has a market cap of $172.09 billion, a P/E ratio of 62.54, a PEG ratio of 3.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, sell-side analysts predict that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.59%. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 over the last ninety days. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays lifted their target price on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Susquehanna lifted their price target on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Mizuho lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Piper Sandler lifted their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.00.

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.