Intuit Inc. (NASDAQ:INTU) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 25.3% during the fourth quarter, HoldingsChannel reports. The firm owned 21,406 shares of the software maker’s stock after selling 7,231 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Intuit were worth $13,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new position in Intuit during the third quarter valued at $27,000. Sugar Maple Asset Management LLC purchased a new position in Intuit in the fourth quarter valued at $29,000. Denver PWM LLC purchased a new position in shares of Intuit in the 3rd quarter valued at about $32,000. Dunhill Financial LLC boosted its position in Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after purchasing an additional 32 shares in the last quarter. Finally, Groupama Asset Managment increased its position in shares of Intuit by 10.6% in the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after buying an additional 720 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

NASDAQ:INTU opened at $604.13 on Tuesday. The business’s fifty day moving average price is $646.09 and its 200 day moving average price is $636.77. The firm has a market capitalization of $169.11 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 2.98 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity

In other news, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of a number of research analyst reports. Scotiabank began coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $726.53.

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.