Prairie Wealth Advisors Inc. Trims Stake in Intuit Inc. (NASDAQ:INTU)

Prairie Wealth Advisors Inc. decreased its position in Intuit Inc. (NASDAQ:INTU) by 7.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 717 shares of the software maker’s stock after selling 56 shares during the quarter. Prairie Wealth Advisors Inc.’s holdings in Intuit were worth $451,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after purchasing an additional 80,463 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after purchasing an additional 87,517 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Intuit by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after buying an additional 26,914 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction 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 owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Piper Sandler reissued an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Jefferies Financial Group raised their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Oppenheimer increased their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Up 0.3 %

Shares of INTU stock opened at $590.20 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $165.21 billion, a price-to-earnings ratio of 57.30, a PEG ratio of 2.96 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm has a fifty day moving average price of $628.37 and a 200-day moving average price of $632.37.

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

Intuit Dividend Announcement

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