Ulland Investment Advisors LLC Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

Ulland Investment Advisors LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 13.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 767 shares of the software maker’s stock after selling 120 shares during the period. Ulland Investment Advisors LLC’s holdings in Intuit were worth $482,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of INTU. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the 3rd quarter valued at approximately $27,000. Denver PWM LLC purchased a new stake in Intuit during the 3rd quarter valued at $32,000. Dunhill Financial LLC lifted its position in Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the last quarter. Groupama Asset Managment boosted its stake in Intuit by 10.6% during the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after buying an additional 720 shares during the period. Finally, Kimelman & Baird LLC bought a new position in Intuit during the second quarter valued at $49,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group increased their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. One 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 data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Down 0.5 %

Shares of NASDAQ INTU opened at $604.13 on Tuesday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock’s fifty day simple moving average is $646.09 and its two-hundred day simple moving average is $636.77. The stock has a market capitalization of $169.11 billion, a PE ratio of 58.65, a price-to-earnings-growth 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 data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid 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 0.69%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was 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 in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $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. Insiders sold 293,014 shares of company stock valued at $188,992,187 over the last 90 days. Insiders own 2.68% of the company’s stock.

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.