Kingfisher Capital LLC Lowers Position in Intuit Inc. (NASDAQ:INTU)

Kingfisher Capital LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,177 shares of the software maker’s stock after selling 607 shares during the quarter. Intuit comprises about 1.7% of Kingfisher Capital LLC’s holdings, making the stock its 14th largest position. Kingfisher Capital LLC’s holdings in Intuit were worth $7,562,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in INTU. Harvest Portfolios Group Inc. raised its holdings in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after buying an additional 1,853 shares in the last quarter. GAMMA Investing LLC boosted its stake in Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after buying an additional 968 shares in the last quarter. Retireful LLC purchased a new position in shares of Intuit during the third quarter worth approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Intuit during the third quarter worth approximately $56,144,000. Finally, Cetera Advisors LLC lifted its holdings in shares of Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after acquiring an additional 2,655 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ INTU opened at $636.17 on Friday. The company has a 50 day simple moving average of $634.16 and a two-hundred day simple moving average of $631.36. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a market capitalization of $178.15 billion, a price-to-earnings ratio of 61.76, a P/E/G ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating 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 analyst estimates of $3.14 billion. During the same quarter last year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts expect 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 given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction 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 sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,265 shares of company stock worth $83,336,625. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INTU shares. Barclays lowered their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Piper Sandler lowered their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $737.44.

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.