Glen Eagle Advisors LLC Sells 123 Shares of Intuit Inc. (NASDAQ:INTU)

Glen Eagle Advisors LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 19.0% during the 3rd quarter, Holdings Channel reports. The firm owned 524 shares of the software maker’s stock after selling 123 shares during the period. Glen Eagle Advisors LLC’s holdings in Intuit were worth $325,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Gemmer Asset Management LLC raised its holdings in Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after acquiring an additional 16 shares during the period. WASHINGTON TRUST Co grew its position in shares of Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares in the last quarter. Truvestments Capital LLC lifted its holdings in Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares in the last quarter. PFG Investments LLC lifted its holdings in Intuit by 1.1% in the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after purchasing an additional 17 shares in the last quarter. Finally, Plancorp LLC grew its holdings in Intuit by 2.0% during the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 99.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,324 shares of company stock valued at $75,803,690. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INTU has been the topic of several research analyst reports. Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Stifel Nicolaus cut their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Piper Sandler decreased their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group increased their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Price Performance

INTU stock opened at $646.47 on Friday. The stock has a market cap of $180.96 billion, a PE ratio of 62.76, a P/E/G ratio of 3.23 and a beta of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a 50-day moving average price of $635.08 and a 200 day moving average price of $630.82. 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 announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. Intuit’s dividend payout ratio (DPR) is 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.