Intuit Inc. (NASDAQ:INTU) Stock Holdings Reduced by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,035 shares of the software maker’s stock after selling 72 shares during the quarter. Summit Trail Advisors LLC’s holdings in Intuit were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. NewSquare Capital LLC bought a new stake in shares of Intuit during the 3rd quarter worth $25,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit in the fourth quarter valued at about $25,000. Cape Investment Advisory Inc. bought a new position in shares of Intuit in the third quarter worth about $26,000. MCF Advisors LLC lifted its position in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Finally, Aspire Private Capital LLC lifted its position in shares of Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

INTU traded up $5.37 during trading on Monday, hitting $634.64. The company’s stock had a trading volume of 802,874 shares, compared to its average volume of 1,237,341. The firm’s 50 day moving average price is $637.56 and its two-hundred day moving average price is $606.70. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $177.70 billion, a price-to-earnings ratio of 64.11, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 EPS. Sell-side analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Insider Buying and Selling at Intuit

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on INTU shares. Wells Fargo & Company upped their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price target on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler lifted their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Mizuho boosted their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $650.23.

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.