Financial Counselors Inc. Sells 261 Shares of Intuit Inc. (NASDAQ:INTU)

Financial Counselors Inc. trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,763 shares of the software maker’s stock after selling 261 shares during the period. Financial Counselors Inc.’s holdings in Intuit were worth $11,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Townsquare Capital LLC boosted its stake in shares of Intuit by 5.8% during the third quarter. Townsquare Capital LLC now owns 11,387 shares of the software maker’s stock valued at $5,818,000 after purchasing an additional 628 shares in the last quarter. Essex Financial Services Inc. lifted its holdings in Intuit by 15.1% during the third quarter. Essex Financial Services Inc. now owns 875 shares of the software maker’s stock worth $447,000 after buying an additional 115 shares during the period. FineMark National Bank & Trust boosted its position in Intuit by 11.3% during the 3rd quarter. FineMark National Bank & Trust now owns 1,369 shares of the software maker’s stock valued at $699,000 after acquiring an additional 139 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in shares of Intuit by 8.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 599 shares of the software maker’s stock valued at $306,000 after acquiring an additional 45 shares during the period. Finally, Financial Gravity Asset Management Inc. raised its position in shares of Intuit by 1,754.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 48,617 shares of the software maker’s stock worth $24,840,000 after acquiring an additional 45,996 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

NASDAQ INTU traded down $9.58 on Tuesday, hitting $650.00. The company had a trading volume of 495,567 shares, compared to its average volume of 1,335,592. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The company’s fifty day moving average price is $622.17 and its 200-day moving average price is $630.18. The company has a market capitalization of $181.71 billion, a PE ratio of 60.11, a PEG ratio of 3.82 and a beta of 1.23. Intuit Inc. has a 12-month low of $447.01 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.80 earnings per share. As a group, analysts predict that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a $0.90 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insider Transactions at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now owns 869 shares in the company, valued at approximately $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold 195,963 shares of company stock valued at $114,442,445 over the last ninety days. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INTU. UBS Group lifted their target price on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Susquehanna reduced their price objective on shares of Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research note on Friday, May 24th. Piper Sandler raised their target price on shares of Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Wells Fargo & Company upped their price target on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Finally, Citigroup boosted their target price on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $687.22.

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.