Intuit Inc. (NASDAQ:INTU) Shares Sold by RFG Advisory LLC

RFG Advisory LLC lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,824 shares of the software maker’s stock after selling 325 shares during the period. RFG Advisory LLC’s holdings in Intuit were worth $1,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in Intuit by 37.3% during the 2nd quarter. AQR Capital Management LLC now owns 50,487 shares of the software maker’s stock valued at $32,954,000 after buying an additional 13,721 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Intuit by 29.8% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 3,119 shares of the software maker’s stock valued at $2,050,000 after acquiring an additional 716 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc increased its position in Intuit by 3.1% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 12,969 shares of the software maker’s stock worth $8,523,000 after purchasing an additional 396 shares in the last quarter. Kathmere Capital Management LLC raised its stake in Intuit by 9.5% in the 2nd quarter. Kathmere Capital Management LLC now owns 436 shares of the software maker’s stock valued at $287,000 after purchasing an additional 38 shares during the last quarter. Finally, Ascent Group LLC lifted its holdings in Intuit by 6.8% in the 2nd quarter. Ascent Group LLC now owns 4,803 shares of the software maker’s stock valued at $3,157,000 after purchasing an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Trading Down 0.1 %

Shares of INTU opened at $597.95 on Friday. 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 12 month low of $557.29 and a 12 month high of $714.78. The stock has a market cap of $167.38 billion, a PE ratio of 58.05, a P/E/G ratio of 3.01 and a beta of 1.25. The stock’s 50-day moving average is $636.69 and its two-hundred day moving average is $635.10.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping 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 firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the business earned $1.14 EPS. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid 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 dividend yield of 0.70%. Intuit’s dividend payout ratio is presently 40.39%.

Insider Transactions at Intuit

In other news, CEO Sasan K. Goodarzi sold 26,562 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total value of $16,624,890.18. Following the sale, the chief executive officer now owns 37,869 shares in the company, valued at approximately $23,701,828.41. This represents a 41.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit 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 completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by 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.