Elevated Capital Advisors LLC Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

Elevated Capital Advisors LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,417 shares of the software maker’s stock after selling 62 shares during the period. Elevated Capital Advisors LLC’s holdings in Intuit were worth $891,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the third quarter worth approximately $27,000. Denver PWM LLC purchased a new position in shares of Intuit during the third quarter valued at approximately $32,000. Dunhill Financial LLC raised its stake in 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 buying an additional 32 shares during the last quarter. Finally, Groupama Asset Managment lifted its holdings in Intuit by 10.6% in the third 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. 83.66% of the stock is owned by institutional investors.

Insider Transactions at Intuit

In other news, EVP Mark P. Notarainni sold 363 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $228,145.50. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $11,941.50. This trade represents a 95.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 1,300 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total transaction of $814,346.00. Following the completion of the sale, the chief financial officer now directly owns 644 shares of the company’s stock, valued at approximately $403,414.48. This trade represents a 66.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 291,936 shares of company stock worth $188,324,604. 2.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTU. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note 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 research note on Friday, November 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Trading Down 1.6 %

NASDAQ INTU traded down $10.21 on Monday, hitting $613.22. 1,515,805 shares of the stock were exchanged, compared to its average volume of 1,277,106. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a market capitalization of $171.65 billion, a P/E ratio of 59.54, a P/E/G ratio of 3.24 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. The stock has a fifty day moving average price of $649.58 and a two-hundred day moving average price of $638.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS 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 company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm posted $1.14 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s payout ratio is 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.