Belpointe Asset Management LLC Sells 146 Shares of Intuit Inc. (NASDAQ:INTU)

Belpointe Asset Management LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 10.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,210 shares of the software maker’s stock after selling 146 shares during the quarter. Belpointe Asset Management LLC’s holdings in Intuit were worth $795,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC grew its position in Intuit by 1.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after purchasing an additional 16 shares during the period. Fortitude Family Office LLC grew its holdings in Intuit by 2.8% during the 2nd 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 period. WASHINGTON TRUST Co raised its position in shares of Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after acquiring an additional 16 shares during the period. Finally, Gemmer Asset Management LLC lifted its holdings in shares of Intuit by 3.7% during 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 in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTU. BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their target price on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. UBS Group lifted their price target on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $716.35.

Intuit Stock Performance

INTU opened at $621.48 on Friday. The company’s 50 day moving average is $639.26 and its 200 day moving average is $632.71. The company has a current ratio of 1.29, a quick ratio of 1.50 and a debt-to-equity ratio of 0.30. The company has a market cap of $173.73 billion, a price-to-earnings ratio of 57.33, a PEG ratio of 3.08 and a beta of 1.23. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. On average, equities research analysts predict that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the transaction, the insider now owns 6,626,721 shares of the company’s stock, valued at approximately $3,762,320,847.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $567.75, for a total value of $42,581,250.00. Following the transaction, the insider now owns 6,626,721 shares of the company’s stock, valued at approximately $3,762,320,847.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The disclosure for this sale can be found here. Insiders have sold a total of 116,308 shares of company stock valued at $67,651,926 in the last quarter. 2.90% of the stock is currently owned by insiders.

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.