Consolidated Planning Corp Sells 151 Shares of Intuit Inc. (NASDAQ:INTU)

Consolidated Planning Corp decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 10.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,320 shares of the software maker’s stock after selling 151 shares during the period. Consolidated Planning Corp’s holdings in Intuit were worth $830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp boosted its position in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after acquiring an additional 80,463 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after acquiring an additional 107,482 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intuit by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after acquiring an additional 87,517 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Intuit by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after acquiring an additional 26,914 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 1.6 %

Shares of INTU opened at $576.54 on Thursday. The company has a market cap of $161.39 billion, a P/E ratio of 55.97, a P/E/G ratio of 2.91 and a beta of 1.24. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company’s fifty day simple moving average is $624.25 and its 200-day simple moving average is $631.05. 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 results on Thursday, November 21st. The software maker reported $2.50 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 firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 in the last 90 days. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. 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, November 22nd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. Finally, Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.