Intuit Inc. (NASDAQ:INTU) Shares Sold by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 52.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 472 shares of the software maker’s stock after selling 513 shares during the period. Gryphon Financial Partners LLC’s holdings in Intuit were worth $296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its stake in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the last quarter. Holocene Advisors LP boosted its position in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the last quarter. State Street Corp increased its holdings in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Intuit in the fourth quarter valued at approximately $104,278,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In related news, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,460 shares of company stock valued at $144,750,747. 2.68% of the stock is owned by company insiders.

Intuit Price Performance

Shares of INTU opened at $601.09 on Tuesday. 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 Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The firm has a 50-day simple moving average of $605.15 and a 200-day simple moving average of $626.69. The company has a market capitalization of $168.04 billion, a price-to-earnings ratio of 58.36, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Citigroup dropped their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Mizuho boosted their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $720.50.

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.