Carderock Capital Management Inc. Has $6.53 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Carderock Capital Management Inc. cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,395 shares of the software maker’s stock after selling 540 shares during the period. Carderock Capital Management Inc.’s holdings in Intuit were worth $6,533,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Merit Financial Group LLC raised its holdings in Intuit by 53.9% in the 4th quarter. Merit Financial Group LLC now owns 3,999 shares of the software maker’s stock valued at $2,513,000 after buying an additional 1,400 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Intuit by 9.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 100,981 shares of the software maker’s stock valued at $63,467,000 after acquiring an additional 8,441 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its stake in shares of Intuit by 9.4% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 709 shares of the software maker’s stock valued at $446,000 after acquiring an additional 61 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Intuit during the fourth quarter worth $230,000. Finally, Cvfg LLC bought a new stake in shares of Intuit in the fourth quarter worth $1,219,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Sandeep Aujla sold 1,300 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the transaction, the chief financial officer now owns 644 shares of the company’s stock, valued at $403,414.48. This represents a 66.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit 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 sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.5 %

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

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

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Wall Street Analyst Weigh In

Several brokerages recently commented on INTU. Piper Sandler reiterated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target 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.