Ballentine Partners LLC Sells 123 Shares of Intuit Inc. (NASDAQ:INTU)

Ballentine Partners LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.2% in the 4th quarter, HoldingsChannel reports. The fund owned 3,682 shares of the software maker’s stock after selling 123 shares during the period. Ballentine Partners LLC’s holdings in Intuit were worth $2,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pure Financial Advisors LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $204,000. Addenda Capital Inc. increased its holdings in shares of Intuit by 41.2% during the fourth quarter. Addenda Capital Inc. now owns 23,247 shares of the software maker’s stock valued at $14,611,000 after acquiring an additional 6,786 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Intuit by 11.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 1,090 shares of the software maker’s stock valued at $685,000 after acquiring an additional 116 shares in the last quarter. Overbrook Management Corp increased its holdings in shares of Intuit by 2.3% during the fourth quarter. Overbrook Management Corp now owns 25,171 shares of the software maker’s stock valued at $15,820,000 after acquiring an additional 562 shares in the last quarter. Finally, Zhang Financial LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $204,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of several analyst reports. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Finally, Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Performance

Shares of INTU opened at $609.41 on Wednesday. The firm has a market cap of $170.59 billion, a PE ratio of 59.17, a PEG ratio of 2.98 and a beta of 1.25. The stock’s fifty day moving average price is $644.23 and its two-hundred day moving average price is $636.37. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the company posted $1.14 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid 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 dividend yield of 0.68%. Intuit’s payout ratio is 40.39%.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the completion of the transaction, the chief executive officer now owns 37,869 shares in the company, valued at $23,701,828.41. This represents a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

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.