SageView Advisory Group LLC Reduces Position in Intuit Inc. (NASDAQ:INTU)

SageView Advisory Group LLC reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 64.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 421 shares of the software maker’s stock after selling 780 shares during the period. SageView Advisory Group LLC’s holdings in Intuit were worth $261,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC purchased a new stake in Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit during the 2nd quarter worth about $26,000. Fairway Wealth LLC purchased a new stake in Intuit during the second quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit in the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,324 shares of company stock valued at $75,803,690 over the last quarter. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler lowered their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. BMO Capital Markets boosted their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Morgan Stanley raised their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Down 0.3 %

Shares of Intuit stock opened at $646.47 on Friday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a market cap of $180.96 billion, a P/E ratio of 62.76, a PEG ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day moving average of $635.08 and a two-hundred day moving average of $630.82.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company posted $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

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.