Intuit Inc. (NASDAQ:INTU) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 15.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,298 shares of the software maker's stock after selling 5,970 shares during the period. Janney Montgomery Scott LLC's holdings in Intuit were worth $20,445,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in INTU. Copia Wealth Management acquired a new position in Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC lifted its position in shares of 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 buying an additional 18 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new stake in Intuit in the 4th quarter valued at $28,000. Finally, VSM Wealth Advisory LLC purchased a new stake in Intuit in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Buying and Selling

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now directly owns 40,190 shares in the company, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the sale, the chief financial officer now owns 197 shares in the company, valued at approximately $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 286,706 shares of company stock worth $212,420,665 over the last ninety days. 2.68% of the stock is owned by insiders.

Intuit Stock Down 1.3%

Shares of NASDAQ:INTU opened at $754.83 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. The company has a 50 day moving average of $675.86 and a two-hundred day moving average of $632.87. The company has a market capitalization of $210.56 billion, a price-to-earnings ratio of 61.27, a price-to-earnings-growth ratio of 3.40 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the company earned $9.88 earnings per share. The business's quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analysts Set New Price Targets

INTU has been the subject of several research reports. Mizuho upped their price target on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 price objective (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. The Goldman Sachs Group increased their price objective on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Finally, Piper Sandler restated an "overweight" rating and issued a $825.00 target price (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Intuit currently has an average rating of "Moderate Buy" and a consensus price target of $787.95.

About Intuit

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.

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