Chapin Davis Inc. Sells 154 Shares of Intuit Inc. (NASDAQ:INTU)

Chapin Davis Inc. cut its holdings in Intuit Inc. (NASDAQ:INTU) by 14.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 930 shares of the software maker’s stock after selling 154 shares during the quarter. Chapin Davis Inc.’s holdings in Intuit were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. bought a new position in Intuit in the fourth quarter worth about $25,000. West Branch Capital LLC raised its position in shares of Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after acquiring an additional 19 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in shares of Intuit during the 4th quarter valued at $38,000. Finally, Sachetta LLC bought a new stake in Intuit during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on INTU shares. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Bank of America cut their price objective on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Susquehanna reaffirmed a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday. Stifel Nicolaus lowered their target price on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, Piper Sandler reissued an “overweight” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $691.77.

Intuit Price Performance

INTU traded up $1.39 during trading on Friday, hitting $653.53. 765,779 shares of the company traded hands, compared to its average volume of 1,317,588. The company has a market cap of $182.69 billion, a PE ratio of 60.29, a P/E/G ratio of 3.14 and a beta of 1.23. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock’s 50-day simple moving average is $631.87 and its two-hundred day simple moving average is $633.71.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $7.80 earnings per share. As a group, sell-side analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s dividend payout ratio is presently 33.21%.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold a total of 195,963 shares of company stock valued at $114,442,445 over the last 90 days. 2.90% of the stock is owned by corporate insiders.

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.