Intuit Inc. (NASDAQ:INTU) Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,478 shares of the software maker’s stock after selling 391 shares during the quarter. CWA Asset Management Group LLC’s holdings in Intuit were worth $9,099,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in INTU. Fairway Wealth LLC acquired a new stake in shares of Intuit in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the third quarter valued at $27,000. Denver PWM LLC acquired a new position in shares of Intuit during the 3rd quarter worth $32,000. Dunhill Financial LLC raised its stake in shares of Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the last quarter. Finally, Trifecta Capital Advisors LLC grew its stake in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after acquiring an additional 35 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Up 0.1 %

Intuit stock traded up $0.90 during trading hours on Monday, reaching $631.13. 326,916 shares of the company’s stock were exchanged, compared to its average volume of 815,184. The firm’s 50 day simple moving average is $649.04 and its 200 day simple moving average is $638.38. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The firm has a market capitalization of $176.66 billion, a PE ratio of 61.27, a PEG ratio of 3.24 and a beta of 1.25. The company has a quick ratio of 1.24, a current 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly 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 earnings per share. Research analysts predict that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio is 40.39%.

Insider Transactions at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was 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 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. In the last three months, insiders have sold 262,814 shares of company stock worth $170,119,823. 2.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler decreased their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Oppenheimer raised their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $737.44.

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.