Nwam LLC Sells 37 Shares of Intuit Inc. (NASDAQ:INTU)

Nwam LLC cut its stake in Intuit Inc. (NASDAQ:INTU) by 10.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 322 shares of the software maker’s stock after selling 37 shares during the period. Nwam LLC’s holdings in Intuit were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of INTU. Fortitude Family Office LLC lifted its position in Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after acquiring an additional 16 shares during the last quarter. WASHINGTON TRUST Co lifted its holdings in Intuit by 10.5% during the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the last quarter. Gemmer Asset Management LLC boosted its stake in Intuit by 3.7% in the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares during the period. PFG Investments LLC grew its holdings in Intuit by 1.1% in the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after buying an additional 17 shares in the last quarter. Finally, Plancorp LLC increased its position in Intuit by 2.0% during the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock worth $579,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $634.62 on Tuesday. The stock has a market cap of $177.77 billion, a price-to-earnings ratio of 61.61, a P/E/G ratio of 3.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50 day simple moving average of $634.58 and a 200 day simple moving average of $631.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.66%. Intuit’s dividend payout ratio is presently 40.39%.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock valued at $35,200,125 in the last ninety days. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday. Piper Sandler dropped their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. Oppenheimer boosted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Bank of America raised their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

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.