Intuit Inc. (NASDAQ:INTU) Stake Decreased by Sara Bay Financial

Sara Bay Financial reduced its position in Intuit Inc. (NASDAQ:INTUFree Report) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,743 shares of the software maker’s stock after selling 131 shares during the period. Intuit accounts for approximately 4.4% of Sara Bay Financial’s portfolio, making the stock its 7th largest holding. Sara Bay Financial’s holdings in Intuit were worth $11,814,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont increased its position in shares of Intuit by 7.1% during the fourth quarter. Trust Co. of Vermont now owns 26,921 shares of the software maker’s stock valued at $16,920,000 after buying an additional 1,787 shares during the period. Arkadios Wealth Advisors increased its position in shares of Intuit by 2.8% during the fourth quarter. Arkadios Wealth Advisors now owns 1,998 shares of the software maker’s stock valued at $1,256,000 after buying an additional 55 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in shares of Intuit during the fourth quarter valued at about $208,000. Arthur M. Cohen & Associates LLC bought a new stake in shares of Intuit during the fourth quarter valued at about $203,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Intuit during the fourth quarter valued at about $58,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Down 0.5 %

Shares of NASDAQ:INTU traded down $3.14 during trading on Friday, reaching $604.13. 2,830,783 shares of the company traded hands, compared to its average volume of 1,248,995. The firm has a market capitalization of $169.11 billion, a price-to-earnings ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s fifty day moving average is $647.69 and its 200-day moving average is $637.39.

Intuit (NASDAQ:INTUGet Free Report) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. As a group, analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio is presently 40.39%.

Wall Street Analyst Weigh In

INTU has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Oppenheimer upped their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Read Our Latest Stock Report on INTU

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last quarter. 2.68% of the stock is owned by corporate insiders.

Intuit Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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