Corient Private Wealth LLC Sells 9,074 Shares of Intuit Inc. (NASDAQ:INTU)

Corient Private Wealth LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,562 shares of the software maker’s stock after selling 9,074 shares during the quarter. Corient Private Wealth LLC’s holdings in Intuit were worth $78,706,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter worth $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 3.0 %

Shares of INTU stock opened at $598.80 on Monday. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. 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’s fifty day simple moving average is $598.23 and its two-hundred day simple moving average is $623.66. The stock has a market cap of $167.40 billion, a P/E ratio of 58.14, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

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

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. 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. BMO Capital Markets lowered their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research report on Wednesday, February 26th. Finally, Mizuho upped their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Buying and Selling

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,301 shares of company stock worth $121,470,200. Insiders own 2.68% of the company’s stock.

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.