Dakota Wealth Management Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Dakota Wealth Management trimmed its stake in Intuit Inc. (NASDAQ:INTUFree Report) by 5.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,872 shares of the software maker’s stock after selling 241 shares during the period. Dakota Wealth Management’s holdings in Intuit were worth $2,517,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of INTU. Desjardins Global Asset Management Inc. boosted its holdings in shares of Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after acquiring an additional 16 shares during the period. JFS Wealth Advisors LLC boosted its stake in Intuit by 1.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after purchasing an additional 16 shares during the period. EverSource Wealth Advisors LLC grew its position in Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after purchasing an additional 16 shares during the last quarter. GAM Holding AG increased its stake in Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after purchasing an additional 17 shares during the period. Finally, Janiczek Wealth Management LLC raised its holdings in shares of Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after buying an additional 17 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Piper Sandler raised their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Barclays lifted their target price on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Mizuho upped their price target on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Finally, Evercore ISI boosted their price objective on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $664.77.

View Our Latest Research Report on INTU

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. In the last three months, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of INTU stock traded up $8.97 during midday trading on Monday, reaching $670.15. 931,502 shares of the company traded hands, compared to its average volume of 1,206,683. The firm’s 50 day simple moving average is $634.31 and its two-hundred day simple moving average is $618.09. The firm has a market cap of $187.64 billion, a PE ratio of 68.38, a price-to-earnings-growth ratio of 4.03 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.49.

Intuit (NASDAQ:INTUGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share. On average, equities research analysts expect that Intuit Inc. will post 11.28 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.54%. Intuit’s payout ratio is 36.73%.

About Intuit

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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