Intuit Inc. (NASDAQ:INTU) Shares Sold by Ownership Capital B.V.

Ownership Capital B.V. lessened its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 21.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 631,111 shares of the software maker's stock after selling 173,209 shares during the quarter. Intuit comprises 8.8% of Ownership Capital B.V.'s holdings, making the stock its 2nd largest position. Ownership Capital B.V. owned 0.23% of Intuit worth $394,463,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. Strategic Blueprint LLC purchased a new position in Intuit during the third quarter worth approximately $221,000. Connecticut Wealth Management LLC lifted its position in Intuit by 92.5% during the third quarter. Connecticut Wealth Management LLC now owns 895 shares of the software maker's stock worth $457,000 after buying an additional 430 shares in the last quarter. Ballentine Partners LLC lifted its position in Intuit by 3.5% during the third quarter. Ballentine Partners LLC now owns 2,303 shares of the software maker's stock worth $1,177,000 after buying an additional 78 shares in the last quarter. Family Firm Inc. lifted its position in Intuit by 2.8% during the third quarter. Family Firm Inc. now owns 773 shares of the software maker's stock worth $395,000 after buying an additional 21 shares in the last quarter. Finally, Walkner Condon Financial Advisors LLC lifted its position in Intuit by 6.0% during the third quarter. Walkner Condon Financial Advisors LLC now owns 514 shares of the software maker's stock worth $262,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Up 1.6 %

NASDAQ INTU traded up $10.16 during trading on Friday, reaching $636.55. 1,192,496 shares of the company's stock were exchanged, compared to its average volume of 1,208,945. The stock has a market cap of $178.23 billion, a P/E ratio of 64.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a 50 day moving average price of $640.26 and a two-hundred day moving average price of $603.18. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit's payout ratio is currently 36.73%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of analyst reports. KeyCorp lifted their price objective on Intuit from $700.00 to $720.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 27th. Susquehanna raised their target price on Intuit from $700.00 to $775.00 and gave the stock a "positive" rating in a research note on Friday, February 23rd. Oppenheimer raised their target price on Intuit from $678.00 to $712.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. lifted their price objective on Intuit from $560.00 to $585.00 and gave the company a "neutral" rating in a research note on Friday, February 23rd. Finally, Piper Sandler lifted their price objective on Intuit from $642.00 to $750.00 and gave the company an "overweight" rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, Intuit has an average rating of "Moderate Buy" and an average price target of $650.23.

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of the business's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares of the company's stock, valued at approximately $2,083,313.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the company's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company's stock.

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.