Northern Financial Advisors Inc Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Northern Financial Advisors Inc reduced its stake in Intuit Inc. (NASDAQ:INTU) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,197 shares of the software maker’s stock after selling 142 shares during the quarter. Northern Financial Advisors Inc’s holdings in Intuit were worth $752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Brown Financial Advisors lifted its holdings in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares during the last quarter. Truvestments Capital LLC lifted its stake in Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the last quarter. Chris Bulman Inc boosted its holdings in shares of Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after purchasing an additional 17 shares in the last quarter. Freedom Day Solutions LLC increased its position in shares of Intuit by 0.4% during the 3rd quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock valued at $2,599,000 after purchasing an additional 17 shares during the last quarter. Finally, Covenant Partners LLC raised its holdings in shares of Intuit by 3.4% during the 3rd quarter. Covenant Partners LLC now owns 521 shares of the software maker’s stock valued at $324,000 after buying an additional 17 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Up 1.3 %

INTU stock opened at $583.90 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a market capitalization of $163.44 billion, a price-to-earnings ratio of 56.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. The business’s 50 day moving average price is $622.69 and its two-hundred day moving average price is $630.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

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, beating 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 company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the company posted $1.14 EPS. Intuit’s revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the executive vice president now directly owns 33,916 shares in the company, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Morgan Stanley increased their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $726.53.

About Intuit

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.