Bourne Lent Asset Management Inc. Trims Position in Intuit Inc. (NASDAQ:INTU)

Bourne Lent Asset Management Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 29.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 566 shares of the software maker’s stock after selling 239 shares during the period. Bourne Lent Asset Management Inc.’s holdings in Intuit were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its position in shares of Intuit by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker’s stock worth $9,427,000 after buying an additional 186 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Intuit by 14.9% in the second quarter. EverSource Wealth Advisors LLC now owns 525 shares of the software maker’s stock valued at $340,000 after purchasing an additional 68 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of Intuit by 71.9% in the second quarter. Public Sector Pension Investment Board now owns 10,717 shares of the software maker’s stock valued at $7,043,000 after purchasing an additional 4,483 shares during the period. Evergreen Capital Management LLC grew its holdings in Intuit by 1.7% during the second quarter. Evergreen Capital Management LLC now owns 4,331 shares of the software maker’s stock worth $2,846,000 after acquiring an additional 73 shares during the period. Finally, Farallon Capital Management LLC raised its position in Intuit by 17.1% in the second quarter. Farallon Capital Management LLC now owns 629,097 shares of the software maker’s stock worth $413,449,000 after acquiring an additional 92,019 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Up 0.9 %

INTU opened at $609.41 on Wednesday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s fifty day moving average is $644.23 and its 200-day moving average is $636.37. The company has a market capitalization of $170.59 billion, a PE ratio of 59.17, a P/E/G ratio of 2.98 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total value of $16,624,890.18. Following the transaction, the chief executive officer now directly owns 37,869 shares in the company, valued at $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last three months. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on INTU shares. Morgan Stanley increased their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Stifel Nicolaus decreased their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $726.53.

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.