Intuit Inc. (NASDAQ:INTU) Shares Sold by Main Street Research LLC

Main Street Research LLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 48.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,485 shares of the software maker’s stock after selling 19,965 shares during the period. Main Street Research LLC’s holdings in Intuit were worth $13,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Portside Wealth Group LLC raised its holdings in shares of Intuit by 12.0% in the 3rd quarter. Portside Wealth Group LLC now owns 558 shares of the software maker’s stock valued at $347,000 after purchasing an additional 60 shares in the last quarter. Assetmark Inc. raised its stake in Intuit by 10.9% in the third quarter. Assetmark Inc. now owns 62,095 shares of the software maker’s stock valued at $38,561,000 after buying an additional 6,098 shares in the last quarter. First Personal Financial Services lifted its holdings in Intuit by 9.0% during the 3rd quarter. First Personal Financial Services now owns 5,361 shares of the software maker’s stock worth $3,329,000 after buying an additional 444 shares during the last quarter. Atria Investments Inc boosted its position in shares of Intuit by 3.0% during the 3rd quarter. Atria Investments Inc now owns 28,213 shares of the software maker’s stock worth $17,520,000 after acquiring an additional 821 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC purchased a new position in shares of Intuit in the 3rd quarter valued at about $294,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ INTU opened at $609.61 on Monday. The business’s 50-day moving average price is $602.28 and its 200 day moving average price is $625.12. 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 Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a market capitalization of $170.42 billion, a PE ratio of 59.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Insider Buying and Selling at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at $22,542,457.60. The trade was a 67.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total value of $5,063,828.00. Following the sale, the executive vice president now owns 33,916 shares of the company’s stock, valued at $22,304,518.24. The trade was a 18.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,811 shares of company stock worth $142,391,012 in the last quarter. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on INTU shares. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. Piper Sandler reissued an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Finally, Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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.