Intuit Inc. (NASDAQ:INTU) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. trimmed its stake in Intuit Inc. (NASDAQ:INTUGet Rating) by 8.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 494 shares of the software maker’s stock after selling 44 shares during the quarter. Grimes & Company Inc.’s holdings in Intuit were worth $237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. JSF Financial LLC boosted its position in shares of Intuit by 2.9% in the fourth quarter. JSF Financial LLC now owns 675 shares of the software maker’s stock worth $434,000 after buying an additional 19 shares during the period. Segall Bryant & Hamill LLC boosted its position in shares of Intuit by 0.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 2,601 shares of the software maker’s stock worth $1,672,000 after buying an additional 19 shares during the period. FineMark National Bank & Trust boosted its position in shares of Intuit by 2.1% in the fourth quarter. FineMark National Bank & Trust now owns 959 shares of the software maker’s stock worth $617,000 after buying an additional 20 shares during the period. Oakworth Capital Inc. boosted its position in shares of Intuit by 2.3% in the fourth quarter. Oakworth Capital Inc. now owns 982 shares of the software maker’s stock worth $632,000 after buying an additional 22 shares during the period. Finally, Contravisory Investment Management Inc. boosted its position in shares of Intuit by 3.4% in the first quarter. Contravisory Investment Management Inc. now owns 704 shares of the software maker’s stock worth $339,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Intuit Trading Up 0.1 %

Intuit stock opened at $466.30 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.63 and a current ratio of 1.63. The business’s 50-day simple moving average is $406.13 and its 200-day simple moving average is $446.13. The firm has a market capitalization of $131.53 billion, a PE ratio of 52.87, a PEG ratio of 3.13 and a beta of 1.18. Intuit Inc. has a 52 week low of $339.36 and a 52 week high of $716.86.

Intuit (NASDAQ:INTUGet Rating) last posted its quarterly earnings data on Tuesday, May 24th. The software maker reported $6.70 EPS for the quarter, hitting analysts’ consensus estimates of $6.70. Intuit had a return on equity of 20.77% and a net margin of 19.44%. The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company posted $5.45 earnings per share. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post 8.22 earnings per share for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 18th. Investors of record on Monday, July 11th were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, July 8th. This represents a $2.72 annualized dividend and a yield of 0.58%. Intuit’s dividend payout ratio is 30.84%.

Wall Street Analyst Weigh In

INTU has been the subject of a number of research reports. Piper Sandler reduced their price objective on Intuit from $674.00 to $500.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. The Goldman Sachs Group reduced their price objective on Intuit from $715.00 to $615.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. BMO Capital Markets reduced their price objective on Intuit from $550.00 to $475.00 in a research report on Wednesday, May 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on Intuit from $650.00 to $625.00 in a research report on Wednesday, May 25th. Finally, Wells Fargo & Company reduced their price objective on Intuit from $635.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. One equities research analyst has rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $561.17.

Insider Activity at Intuit

In related news, EVP James Alexander Chriss sold 984 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $386.29, for a total transaction of $380,109.36. Following the transaction, the executive vice president now directly owns 343 shares in the company, valued at $132,497.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intuit news, EVP Laura A. Fennell sold 10,000 shares of Intuit stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $392.39, for a total transaction of $3,923,900.00. Following the sale, the executive vice president now directly owns 28,717 shares of the company’s stock, valued at $11,268,263.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Alexander Chriss sold 984 shares of Intuit stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $386.29, for a total value of $380,109.36. Following the sale, the executive vice president now directly owns 343 shares in the company, valued at $132,497.47. The disclosure for this sale can be found here. Insiders have sold 12,774 shares of company stock worth $5,002,772 over the last three months. Company insiders own 3.27% of the company’s stock.

About Intuit

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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 ProConnect.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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