Intuit Inc. (NASDAQ:INTU) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lowered its position in Intuit Inc. (NASDAQ:INTU) by 0.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,376 shares of the software maker’s stock after selling 24 shares during the quarter. Intuit comprises approximately 1.3% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 11th biggest holding. NorthCrest Asset Manangement LLC’s holdings in Intuit were worth $43,082,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in INTU. International Assets Investment Management LLC raised its stake in Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after acquiring an additional 483,621 shares in the last quarter. Holocene Advisors LP increased its holdings in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares during the period. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the period. Finally, State Street Corp grew its position in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler restated an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday. JPMorgan Chase & Co. lifted their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus dropped their price target 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. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Up 0.5 %

Shares of INTU traded up $3.24 during trading hours on Friday, reaching $628.25. The company’s stock had a trading volume of 672,879 shares, compared to its average volume of 1,051,493. The company has a 50 day moving average of $649.55 and a two-hundred day moving average of $638.16. 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 market cap of $175.86 billion, a price-to-earnings ratio of 61.00, a P/E/G ratio of 3.24 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s dividend payout ratio is 40.39%.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 290,636 shares of company stock valued at $187,510,258. 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.