Consolidated Planning Corp Sells 151 Shares of Intuit Inc. (NASDAQ:INTU)

Consolidated Planning Corp lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,320 shares of the software maker’s stock after selling 151 shares during the period. Consolidated Planning Corp’s holdings in Intuit were worth $830,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of INTU. R Squared Ltd bought a new stake in Intuit during the fourth quarter worth about $25,000. Northwest Investment Counselors LLC bought a new stake in Intuit during the third quarter worth about $27,000. Heck Capital Advisors LLC bought a new stake in Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Intuit during the fourth quarter worth about $29,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on INTU shares. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Stock Down 1.6 %

INTU opened at $576.54 on Thursday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The stock has a market capitalization of $161.39 billion, a price-to-earnings ratio of 55.97, a PEG ratio of 2.91 and a beta of 1.24. 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 firm has a 50 day moving average price of $624.25 and a 200-day moving average price of $631.05.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 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 business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current 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 issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. Intuit’s dividend payout ratio is currently 40.39%.

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.