U.S. Capital Wealth Advisors LLC Sells 114 Shares of Intuit Inc. (NASDAQ:INTU)

U.S. Capital Wealth Advisors LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 23.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 373 shares of the software maker’s stock after selling 114 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Intuit were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTU. Intech Investment Management LLC increased its position in shares of Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after purchasing an additional 2,641 shares during the last quarter. Parnassus Investments LLC increased its holdings in shares of Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after buying an additional 727,185 shares during the last quarter. Maryland State Retirement & Pension System raised its position in shares of Intuit by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after buying an additional 226 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Intuit by 1.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock worth $112,381,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 0.7 %

INTU traded up $4.08 on Friday, hitting $630.20. The company had a trading volume of 802,793 shares, compared to its average volume of 1,328,678. The stock has a fifty day simple moving average of $624.76 and a 200-day simple moving average of $633.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $176.17 billion, a P/E ratio of 58.14, a P/E/G ratio of 3.14 and a beta of 1.23. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62.

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

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were paid a $0.90 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio is presently 33.21%.

Insider Activity

In related news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the sale, the executive vice president now owns 1,020 shares of the company’s stock, valued at approximately $664,020. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $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 worth $114,442,445 over the last 90 days. 2.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Bank of America dropped their price target on Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Piper Sandler reiterated an “overweight” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, July 12th. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Susquehanna reduced their target price on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a report on Friday, May 24th. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $694.27.

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.