AFT Forsyth & Company Inc. Lowers Position in Intuit Inc. (NASDAQ:INTU)

AFT Forsyth & Company Inc. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 22.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 327 shares of the software maker’s stock after selling 96 shares during the quarter. AFT Forsyth & Company Inc.’s holdings in Intuit were worth $206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp raised its holdings in Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the period. Geode Capital Management LLC increased its holdings in shares of Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after purchasing an additional 107,482 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after purchasing an additional 87,517 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Intuit by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after purchasing an additional 26,914 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $576.54 on Thursday. The business’s fifty day simple moving average is $624.25 and its 200-day simple moving average is $631.05. The company has a market cap of $161.39 billion, a PE ratio of 55.97, a PEG ratio of 2.91 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last issued 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. The business had revenue of $3.28 billion for 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 business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. Analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the sale, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. This represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last ninety days. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on INTU shares. Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Stifel Nicolaus dropped their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Finally, Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $726.53.

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.