Herold Advisors Inc. Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Herold Advisors Inc. cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,118 shares of the software maker’s stock after selling 39 shares during the quarter. Intuit comprises 0.9% of Herold Advisors Inc.’s portfolio, making the stock its 28th biggest position. Herold Advisors Inc.’s holdings in Intuit were worth $3,199,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parnassus Investments LLC grew its stake in shares of Intuit by 42,268.5% in the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after buying an additional 609,512 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Intuit by 61.5% in the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after buying an additional 514,259 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Intuit by 60,534.9% in the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after buying an additional 472,172 shares in the last quarter. FMR LLC grew its stake in shares of Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in shares of Intuit by 56.2% in the third quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock valued at $315,669,000 after buying an additional 222,317 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on INTU shares. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. Wells Fargo & Company increased their price target on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Piper Sandler increased their price target on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Susquehanna increased their price target on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, Oppenheimer increased their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

Intuit Stock Up 1.6 %

Shares of Intuit stock opened at $636.55 on Friday. The stock’s fifty day moving average is $640.26 and its 200-day moving average is $602.74. The firm has a market capitalization of $178.23 billion, a PE ratio of 64.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.21. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.39 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s dividend payout ratio is 36.73%.

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.