Nwam LLC Sells 37 Shares of Intuit Inc. (NASDAQ:INTU)

Nwam LLC lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322 shares of the software maker’s stock after selling 37 shares during the quarter. Nwam LLC’s holdings in Intuit were worth $200,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Meridian Wealth Management LLC acquired a new position in Intuit during the 3rd quarter valued at about $722,000. Covenant Asset Management LLC raised its stake in shares of Intuit by 0.9% during the third quarter. Covenant Asset Management LLC now owns 4,249 shares of the software maker’s stock worth $2,639,000 after buying an additional 36 shares during the last quarter. Biltmore Family Office LLC lifted its holdings in Intuit by 0.7% in the third quarter. Biltmore Family Office LLC now owns 4,609 shares of the software maker’s stock valued at $2,862,000 after buying an additional 32 shares during the period. AlphaCore Capital LLC boosted its stake in Intuit by 5.3% in the third quarter. AlphaCore Capital LLC now owns 1,599 shares of the software maker’s stock valued at $993,000 after acquiring an additional 80 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in Intuit by 20.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 4,649 shares of the software maker’s stock worth $3,181,000 after acquiring an additional 799 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $634.62 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $177.77 billion, a price-to-earnings ratio of 61.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. The stock’s 50-day moving average is $634.58 and its 200-day moving average is $631.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.66%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on INTU shares. Jefferies Financial Group increased their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday. Piper Sandler cut their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Barclays decreased their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,265 shares of company stock worth $35,200,125 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Intuit Profile

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.