Intuit Inc. (NASDAQ:INTU) Shares Sold by Johnson Financial Group Inc.

by · The Cerbat Gem

Johnson Financial Group Inc. decreased its holdings in Intuit Inc. (NASDAQ:INTU – Free Report) by 29.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 310 shares of the software maker’s stock after selling 130 shares during the quarter. Johnson Financial Group Inc.’s holdings in Intuit were worth $186,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Coldstream Capital Management Inc. raised its holdings in shares of Intuit by 6.2% during the fourth quarter. Coldstream Capital Management Inc. now owns 8,053 shares of the software maker’s stock valued at $5,061,000 after acquiring an additional 469 shares during the last quarter. Nebula Research & Development LLC acquired a new position in shares of Intuit during the fourth quarter valued at approximately $3,028,000. Lord Abbett & CO. LLC raised its holdings in shares of Intuit by 12.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,589 shares of the software maker’s stock valued at $999,000 after acquiring an additional 181 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Intuit by 18.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 45,013 shares of the software maker’s stock valued at $28,291,000 after acquiring an additional 6,867 shares during the last quarter. Finally, Hancock Whitney Corp raised its holdings in shares of Intuit by 3.2% during the fourth quarter. Hancock Whitney Corp now owns 19,376 shares of the software maker’s stock valued at $12,178,000 after acquiring an additional 609 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 1.5 %

NASDAQ INTU opened at $624.12 on Monday. The firm’s 50-day moving average is $593.48 and its two-hundred day moving average is $616.08. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $174.48 billion, a P/E ratio of 60.59, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were given a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit’s payout ratio is currently 38.81%.

Analyst Ratings Changes

A number of brokerages have commented on INTU. Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price for the company in a report on Wednesday, April 23rd. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Piper Sandler restated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $717.53.

Get Our Latest Analysis on Intuit

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock valued at $14,347,731 over the last 90 days. 2.68% of the stock is owned by insiders.

Intuit Profile

(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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