Cable Hill Partners LLC Has $287,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Cable Hill Partners LLC cut its position in Intuit Inc. (NASDAQ:INTU) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 462 shares of the software maker’s stock after selling 103 shares during the period. Cable Hill Partners LLC’s holdings in Intuit were worth $287,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. LGT Financial Advisors LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the 2nd quarter valued at about $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the 3rd quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at about $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 36.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

INTU has been the subject of a number of analyst reports. Barclays cut their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and set a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Jefferies Financial Group lifted their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Intuit Trading Down 0.8 %

NASDAQ:INTU opened at $700.76 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $196.42 billion, a PE ratio of 67.06, a price-to-earnings-growth ratio of 3.45 and a beta of 1.25. The firm’s 50 day moving average is $630.03 and its 200 day moving average is $629.21. Intuit Inc. has a 12 month low of $552.68 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. Sell-side analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.59%. Intuit’s payout ratio is presently 39.81%.

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.