Northern Financial Advisors Inc Sells 142 Shares of Intuit Inc. (NASDAQ:INTU)

Northern Financial Advisors Inc decreased its position in Intuit Inc. (NASDAQ:INTU) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,197 shares of the software maker’s stock after selling 142 shares during the quarter. Northern Financial Advisors Inc’s holdings in Intuit were worth $752,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB lifted its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new position in Intuit in the fourth quarter worth approximately $621,000. Harvest Portfolios Group Inc. boosted its stake in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the last quarter. Retireful LLC bought a new stake in shares of Intuit during the 3rd quarter valued at $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Intuit in the 3rd quarter worth $56,144,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on INTU. Stifel Nicolaus cut 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. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $583.90 on Friday. The company has a market cap of $163.44 billion, a price-to-earnings ratio of 56.69, a PEG ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock’s 50 day simple moving average is $622.69 and its two-hundred day simple moving average is $630.67. 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 announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is 40.39%.

About Intuit

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.