Intuit Inc. (NASDAQ:INTU) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,177 shares of the software maker’s stock after selling 75 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Intuit were worth $1,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. R Squared Ltd purchased a new position in Intuit in the 4th quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit in the third quarter worth about $27,000. Heck Capital Advisors LLC purchased a new position in Intuit in the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit during the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Intuit during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INTU. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Down 1.6 %

Intuit stock opened at $576.54 on Thursday. 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 Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a 50-day simple moving average of $624.25 and a 200-day simple moving average of $631.05. The firm has a market capitalization of $161.39 billion, a P/E ratio of 55.97, a P/E/G ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. As a group, equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm 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. This represents a $4.16 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is currently 40.39%.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the business’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 sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

Intuit 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.