Tanager Wealth Management LLP Sells 234 Shares of Intuit Inc. (NASDAQ:INTU)

Tanager Wealth Management LLP reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 35.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 430 shares of the software maker’s stock after selling 234 shares during the quarter. Tanager Wealth Management LLP’s holdings in Intuit were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INTU. Czech National Bank grew its stake in shares of Intuit by 6.7% during the third quarter. Czech National Bank now owns 56,946 shares of the software maker’s stock valued at $35,363,000 after purchasing an additional 3,594 shares during the last quarter. Diversified Trust Co boosted its stake in Intuit by 19.0% in the third quarter. Diversified Trust Co now owns 5,363 shares of the software maker’s stock valued at $3,330,000 after acquiring an additional 858 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in Intuit by 7.7% in the third quarter. Miracle Mile Advisors LLC now owns 3,928 shares of the software maker’s stock valued at $2,439,000 after acquiring an additional 281 shares during the last quarter. Fulton Bank N.A. boosted its stake in Intuit by 2.6% in the third quarter. Fulton Bank N.A. now owns 1,866 shares of the software maker’s stock valued at $1,159,000 after acquiring an additional 47 shares during the last quarter. Finally, Bath Savings Trust Co boosted its stake in Intuit by 0.8% in the third quarter. Bath Savings Trust Co now owns 49,623 shares of the software maker’s stock valued at $30,816,000 after acquiring an additional 415 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 1,300 shares of Intuit stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total transaction of $814,346.00. Following the completion of the transaction, the chief financial officer now directly owns 644 shares of the company’s stock, valued at approximately $403,414.48. This trade represents a 66.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 in the last quarter. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on INTU. Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Down 1.5 %

Shares of INTU stock opened at $591.72 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm’s fifty day moving average price is $630.27 and its two-hundred day moving average price is $633.00. The firm has a market capitalization of $165.63 billion, a P/E ratio of 57.45, a PEG ratio of 2.96 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm 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 business earned $1.14 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.70%. Intuit’s payout ratio is currently 40.39%.

Intuit Company 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.