Intuit Inc. (NASDAQ:INTU) Shares Sold by DB Fitzpatrick & Co Inc

DB Fitzpatrick & Co Inc cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,271 shares of the software maker’s stock after selling 96 shares during the quarter. Intuit makes up 1.3% of DB Fitzpatrick & Co Inc’s portfolio, making the stock its 21st largest holding. DB Fitzpatrick & Co Inc’s holdings in Intuit were worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in INTU. Intech Investment Management LLC boosted its holdings in shares of Intuit by 9.3% during the second quarter. Intech Investment Management LLC now owns 5,030 shares of the software maker’s stock valued at $3,306,000 after acquiring an additional 429 shares during the period. Ieq Capital LLC lifted its position in Intuit by 3.1% in the 2nd quarter. Ieq Capital LLC now owns 19,565 shares of the software maker’s stock valued at $12,858,000 after purchasing an additional 596 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Intuit by 2.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 49,681 shares of the software maker’s stock valued at $32,651,000 after purchasing an additional 1,047 shares during the period. Benjamin Edwards Inc. grew its position in Intuit by 0.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,467 shares of the software maker’s stock worth $1,622,000 after purchasing an additional 22 shares during the last quarter. Finally, Davidson Capital Management Inc. increased its stake in shares of Intuit by 22.2% in the second quarter. Davidson Capital Management Inc. now owns 5,188 shares of the software maker’s stock valued at $3,410,000 after purchasing an additional 943 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. The trade was a 67.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Intuit Price Performance

NASDAQ INTU opened at $604.13 on Friday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock’s 50-day moving average price is $647.69 and its two-hundred day moving average price is $637.39. The company has a market cap of $169.11 billion, a PE ratio of 58.65, a PEG ratio of 3.07 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

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 business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued 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 0.69%. Intuit’s dividend payout ratio is 40.39%.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Morgan Stanley lifted their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Finally, StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit 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.