Sendero Wealth Management LLC Has $4.86 Million Position in Intuit Inc. (NASDAQ:INTU)

Sendero Wealth Management LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,735 shares of the software maker’s stock after selling 620 shares during the quarter. Sendero Wealth Management LLC’s holdings in Intuit were worth $4,861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brown Financial Advisors boosted its position in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares in the last quarter. Truvestments Capital LLC boosted its position in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares during the last quarter. Aviso Wealth Management lifted its position in shares of Intuit by 4.9% during the second quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after purchasing an additional 17 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of Intuit by 3.3% in the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after buying an additional 17 shares during the last quarter. Finally, Chris Bulman Inc grew its stake in Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after purchasing an additional 17 shares during the period. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. 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 quarter. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INTU shares. Morgan Stanley boosted their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Oppenheimer boosted their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 0.4 %

Shares of NASDAQ INTU opened at $621.45 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $173.96 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The business has a fifty day simple moving average of $649.57 and a two-hundred day simple moving average of $637.71. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results 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 return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the business posted $1.14 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio is currently 40.39%.

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.