Larson Financial Group LLC Lowers Stake in Intuit Inc. (NASDAQ:INTU)

Larson Financial Group LLC lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 30.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 208 shares of the software maker’s stock after selling 92 shares during the period. Larson Financial Group LLC’s holdings in Intuit were worth $131,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in INTU. Mesirow Financial Investment Management Inc. lifted its position in Intuit by 15.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,483 shares of the software maker’s stock worth $922,000 after acquiring an additional 197 shares in the last quarter. Baker Avenue Asset Management LP grew its position in Intuit by 6.5% in the third quarter. Baker Avenue Asset Management LP now owns 360 shares of the software maker’s stock valued at $224,000 after acquiring an additional 22 shares in the last quarter. Catalytic Wealth RIA LLC grew its position in Intuit by 46.4% in the third quarter. Catalytic Wealth RIA LLC now owns 1,240 shares of the software maker’s stock valued at $770,000 after acquiring an additional 393 shares in the last quarter. Addison Advisors LLC grew its position in Intuit by 42.0% in the third quarter. Addison Advisors LLC now owns 142 shares of the software maker’s stock valued at $88,000 after acquiring an additional 42 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its position in Intuit by 22.0% in the third quarter. Nations Financial Group Inc. IA ADV now owns 1,016 shares of the software maker’s stock valued at $631,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on INTU. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Morgan Stanley raised 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. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Citigroup lowered their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,111 shares of company stock worth $137,327,184 over the last quarter. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Up 1.2 %

Shares of NASDAQ INTU opened at $586.71 on Wednesday. The stock’s 50 day moving average price is $600.43 and its two-hundred day moving average price is $624.29. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The stock has a market capitalization of $164.02 billion, a P/E ratio of 56.96, a PEG ratio of 2.85 and a beta of 1.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

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.