Bleakley Financial Group LLC Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

Bleakley Financial Group LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,606 shares of the software maker’s stock after selling 107 shares during the quarter. Bleakley Financial Group LLC’s holdings in Intuit were worth $2,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit during the 4th 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 in the last quarter. Retireful LLC purchased a new stake in shares of Intuit during the 3rd quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Intuit during the 3rd quarter worth approximately $56,144,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.3 %

INTU stock opened at $590.20 on Friday. The company has a market cap of $165.21 billion, a price-to-earnings ratio of 57.30, a PEG ratio of 2.96 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. The business has a fifty day simple moving average of $628.37 and a 200-day simple moving average of $632.37. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current 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 given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. 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. Finally, Scotiabank began 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

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.