Cerro Pacific Wealth Advisors LLC Sells 86 Shares of Intuit Inc. (NASDAQ:INTU)

Cerro Pacific Wealth Advisors LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 7.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,108 shares of the software maker’s stock after selling 86 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Intuit were worth $688,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Brown Financial Advisors raised its stake in shares of Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after acquiring an additional 15 shares during the last quarter. Truvestments Capital LLC raised its position in Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the last quarter. Aviso Wealth Management lifted its holdings in Intuit by 4.9% in the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock worth $238,000 after buying an additional 17 shares during the period. CVA Family Office LLC grew its position in shares of Intuit by 3.3% in the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after buying an additional 17 shares during the last quarter. Finally, Chris Bulman Inc raised its holdings in shares of Intuit by 1.1% during the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 in the last ninety days. Insiders own 2.68% of the company’s stock.

Intuit Stock Down 2.2 %

Intuit stock opened at $598.30 on Friday. The firm has a market cap of $167.48 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 3.01 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 Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a fifty day simple moving average of $640.53 and a two-hundred day simple moving average of $635.79.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share 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 business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Intuit’s revenue was up 10.2% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. Intuit’s dividend payout ratio is presently 40.39%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. JPMorgan Chase & Co. increased their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.