Ellsworth Advisors LLC Sells 134 Shares of Intuit Inc. (NASDAQ:INTU)

Ellsworth Advisors LLC cut its stake in Intuit Inc. (NASDAQ:INTU) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,078 shares of the software maker’s stock after selling 134 shares during the period. Intuit accounts for 1.5% of Ellsworth Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Ellsworth Advisors LLC’s holdings in Intuit were worth $5,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Harvest Portfolios Group Inc. boosted its position in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares during the last quarter. GAMMA Investing LLC grew its holdings in Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares during the period. Retireful LLC bought a new position in shares of Intuit in the 3rd quarter worth about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intuit in the 3rd quarter worth about $56,144,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on INTU. Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Morgan Stanley upped their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” 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 given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Price Performance

Intuit stock opened at $604.13 on Monday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company’s 50 day moving average price is $646.09 and its two-hundred day moving average price is $636.93. The stock has a market cap of $169.11 billion, a P/E ratio of 58.65, a P/E/G 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 (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $1.14 earnings per share. On average, equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business 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 of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s payout ratio is currently 40.39%.

About Intuit

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.