Ferguson Wellman Capital Management Inc. Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Ferguson Wellman Capital Management Inc. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.3% during the fourth quarter, Holdings Channel reports. The firm owned 14,415 shares of the software maker’s stock after selling 42 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Intuit were worth $9,060,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Nordea Investment Management AB increased its stake in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the period. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit during the fourth quarter worth $621,000. Harvest Portfolios Group Inc. increased its position in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the period. Retireful LLC acquired a new stake in shares of Intuit in the third quarter valued at $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Intuit in the third quarter valued at $56,144,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Down 1.9 %

INTU opened at $578.85 on Monday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a market cap of $162.03 billion, a price-to-earnings ratio of 56.20, a PEG ratio of 2.91 and a beta of 1.24. The business’s fifty day moving average is $626.20 and its two-hundred day moving average is $631.58. 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 issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company earned $1.14 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. Intuit’s dividend payout ratio is currently 40.39%.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were 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 owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 1,300 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $403,414.48. This represents a 66.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by corporate insiders.

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.