Ballentine Partners LLC Has $2.31 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Ballentine Partners LLC trimmed its position in Intuit Inc. (NASDAQ:INTUFree Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,682 shares of the software maker’s stock after selling 123 shares during the quarter. Ballentine Partners LLC’s holdings in Intuit were worth $2,314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in Intuit in the 3rd quarter valued at $27,000. Denver PWM LLC bought a new stake in shares of Intuit during the 3rd quarter valued at $32,000. Dunhill Financial LLC lifted its position in shares of Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after acquiring an additional 32 shares during the period. Groupama Asset Managment lifted its position in shares of Intuit by 10.6% during the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after acquiring an additional 720 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $49,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley upped their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus dropped their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Read Our Latest Stock Analysis on INTU

Intuit Stock Performance

Shares of INTU stock opened at $609.41 on Wednesday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $170.59 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 2.98 and a beta of 1.25. The business’s 50-day moving average price is $644.23 and its 200-day moving average price is $636.37.

Intuit (NASDAQ:INTUGet Free Report) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the company earned $1.14 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Transactions 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 stock was 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 approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 over the last ninety days. 2.68% of the stock is owned by insiders.

Intuit Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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