Cyndeo Wealth Partners LLC Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Cyndeo Wealth Partners LLC trimmed its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,070 shares of the software maker's stock after selling 792 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Intuit were worth $3,727,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of INTU. Copia Wealth Management acquired a new stake in shares of Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC grew its position in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the period. Summit Securities Group LLC purchased a new position in shares of Intuit during the 4th quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the 4th quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in Intuit in the fourth quarter valued at approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTU has been the subject of a number of recent analyst reports. Citigroup reaffirmed a "buy" rating and issued a $789.00 price objective (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. Evercore ISI raised their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. The Goldman Sachs Group lifted their price target on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Oppenheimer reiterated an "outperform" rating and set a $742.00 price target (up previously from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $787.95.

Insider Activity

In related news, EVP Mark P. Notarainni sold 469 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $13,775. The trade was a 96.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares of the company's stock, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,408 shares of company stock valued at $213,441,865. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

Shares of NASDAQ INTU traded up $14.10 during mid-day trading on Monday, reaching $768.08. The company's stock had a trading volume of 1,428,231 shares, compared to its average volume of 1,611,104. The stock has a 50-day moving average of $664.85 and a two-hundred day moving average of $630.21. 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 has a market capitalization of $214.25 billion, a P/E ratio of 74.57, a P/E/G ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.45.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.88 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit's dividend payout ratio is presently 33.77%.

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.