Thrive Wealth Management LLC Has $1.21 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Thrive Wealth Management LLC trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,925 shares of the software maker’s stock after selling 67 shares during the period. Thrive Wealth Management LLC’s holdings in Intuit were worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC boosted its position in Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares in the last quarter. Legal & General Group Plc grew its stake in Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after buying an additional 23,995 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 buying an additional 87,517 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction 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 owns 30,010 shares in the company, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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 $604.13 on Monday. The firm’s fifty day simple moving average is $646.09 and its 200 day simple moving average is $636.93. The stock has a market cap of $169.11 billion, a P/E ratio of 58.65, a price-to-earnings-growth ratio of 3.07 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 Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last issued 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 return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INTU. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.