Davis R M Inc. Sells 913 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Davis R M Inc. reduced its holdings in Intuit Inc. by selling 913 shares, bringing its total ownership to 138,771 shares valued at approximately $85.2 million.
• Intuit's recent earnings report showed EPS of $11.65, significantly beating analysts' expectations of $10.89, with revenues also surpassing estimates at $7.75 billion.
• The firm declared a quarterly dividend of $1.04, yielding about 0.52%, with a planned annual payout of $4.16 per share.

Davis R M Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 138,771 shares of the software maker's stock after selling 913 shares during the period. Intuit comprises approximately 1.7% of Davis R M Inc.'s holdings, making the stock its 15th biggest position. Davis R M Inc.'s holdings in Intuit were worth $85,204,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INTU. NorthRock Partners LLC lifted its holdings in Intuit by 3.6% during the first quarter. NorthRock Partners LLC now owns 3,410 shares of the software maker's stock valued at $2,094,000 after purchasing an additional 117 shares in the last quarter. North Star Asset Management Inc. lifted its holdings in Intuit by 0.7% during the first quarter. North Star Asset Management Inc. now owns 50,389 shares of the software maker's stock valued at $30,938,000 after purchasing an additional 356 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in Intuit by 5.5% during the first quarter. Baader Bank Aktiengesellschaft now owns 3,229 shares of the software maker's stock valued at $1,961,000 after purchasing an additional 169 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Intuit by 1.0% during the first quarter. Arkadios Wealth Advisors now owns 2,018 shares of the software maker's stock valued at $1,239,000 after purchasing an additional 20 shares in the last quarter. Finally, MMA Asset Management LLC purchased a new position in Intuit during the first quarter valued at approximately $212,000. Institutional investors own 83.66% of the company's stock.

Insider Buying and Selling

In related news, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director directly owned 15,474 shares of the company's stock, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 2,591 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the completion of the sale, the chief financial officer directly owned 768 shares of the company's stock, valued at approximately $600,744.96. This trade represents a 77.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 over the last quarter. 2.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on INTU shares. CLSA started coverage on shares of Intuit in a report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target on the stock. Piper Sandler reiterated an "overweight" rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the company a "buy" rating in a research report on Friday, May 23rd. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a research report on Wednesday, April 23rd. Finally, Barclays reiterated an "overweight" rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and an average price target of $806.27.

Intuit Trading Down 1.1%

Shares of INTU traded down $8.98 during trading hours on Friday, reaching $776.15. 1,490,057 shares of the company traded hands, compared to its average volume of 1,382,113. The firm has a market cap of $216.50 billion, a price-to-earnings ratio of 63.00, a PEG ratio of 3.48 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock's fifty day moving average price is $767.11 and its 200 day moving average price is $661.74.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $9.88 earnings per share. Sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.5%. Intuit's dividend payout ratio is 33.77%.

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.