Crossmark Global Holdings Inc. Sells 7,231 Shares of Intuit Inc. (NASDAQ:INTU)

Crossmark Global Holdings Inc. trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 25.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,406 shares of the software maker’s stock after selling 7,231 shares during the period. Crossmark Global Holdings Inc.’s holdings in Intuit were worth $13,454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. Brown Financial Advisors boosted its position in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares during the period. Truvestments Capital LLC boosted its holdings in shares of 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 period. Aviso Wealth Management grew its stake in shares of Intuit by 4.9% in the second quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock worth $238,000 after purchasing an additional 17 shares during the last quarter. CVA Family Office LLC increased its holdings in Intuit by 3.3% during the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock valued at $330,000 after purchasing an additional 17 shares during the period. Finally, Chris Bulman Inc raised its position in Intuit by 1.1% during the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after purchasing an additional 17 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $604.13 on Tuesday. The firm has a fifty day simple moving average of $646.09 and a two-hundred day simple moving average of $636.77. 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 stock has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a PEG ratio of 2.98 and a beta of 1.25. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data 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. 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 company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 earnings per share. On average, analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley increased their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. This represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by company insiders.

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.