Two Point Capital Management Inc. Sells 19 Shares of Intuit Inc. (NASDAQ:INTU)

Two Point Capital Management Inc. trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,700 shares of the software maker’s stock after selling 19 shares during the quarter. Intuit makes up about 2.3% of Two Point Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Two Point Capital Management Inc.’s holdings in Intuit were worth $6,521,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the third quarter valued at approximately $27,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $29,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INTU. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. Jefferies Financial Group raised their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One investment 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 1.6 %

Shares of NASDAQ:INTU opened at $576.54 on Thursday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. 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 company’s fifty day simple moving average is $624.25 and its 200 day simple moving average is $631.05. The firm has a market cap of $161.39 billion, a price-to-earnings ratio of 55.97, a PEG ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. As a group, research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of Intuit 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. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company’s stock.

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.