Tritonpoint Wealth LLC Has $910,000 Position in Intuit Inc. (NASDAQ:INTU)

Tritonpoint Wealth LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,448 shares of the software maker’s stock after selling 21 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Intuit were worth $910,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. R Squared Ltd acquired a new stake in Intuit during the 4th quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the third quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new position in Intuit during the fourth quarter valued at approximately $29,000. Finally, Denver PWM LLC acquired a new position in Intuit in the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on INTU. Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Stifel Nicolaus reduced their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Down 0.5 %

INTU opened at $601.51 on Monday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business has a 50 day moving average of $630.95 and a 200-day moving average of $633.44. The stock has a market capitalization of $168.37 billion, a price-to-earnings ratio of 58.40, a P/E/G ratio of 2.92 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data 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. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio is currently 40.39%.

Insider Activity

In related news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % 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, CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total value of $16,624,890.18. Following the sale, the chief executive officer now directly owns 37,869 shares in the company, valued at $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

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.