Corundum Group Inc. Sells 49 Shares of Intuit Inc. (NASDAQ:INTU)

Corundum Group Inc. lowered its position in Intuit Inc. (NASDAQ:INTU) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 430 shares of the software maker’s stock after selling 49 shares during the period. Corundum Group Inc.’s holdings in Intuit were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the 3rd quarter worth approximately $27,000. Denver PWM LLC purchased a new stake in Intuit in the third quarter worth $32,000. Dunhill Financial LLC lifted its position in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after purchasing an additional 32 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Intuit during the second quarter valued at $49,000. Finally, Pacifica Partners Inc. grew its holdings in shares of Intuit by 27.7% in the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock worth $52,000 after purchasing an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 over the last three months. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $726.53.

Intuit Price Performance

Shares of INTU opened at $604.13 on Monday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a 50 day moving average of $646.09 and a two-hundred day moving average of $636.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $169.11 billion, a price-to-earnings ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25.

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 analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the company posted $1.14 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

Intuit Company 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.