Intuit Inc. (NASDAQ:INTU) Stock Holdings Lessened by Montag & Caldwell LLC

Montag & Caldwell LLC cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 35.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,461 shares of the software maker’s stock after selling 17,812 shares during the period. Intuit makes up 3.5% of Montag & Caldwell LLC’s portfolio, making the stock its 9th largest holding. Montag & Caldwell LLC’s holdings in Intuit were worth $20,289,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Strategic Blueprint LLC purchased a new stake in Intuit during the third quarter worth $221,000. Valeo Financial Advisors LLC grew its position in Intuit by 7.9% during the third quarter. Valeo Financial Advisors LLC now owns 2,005 shares of the software maker’s stock worth $1,025,000 after buying an additional 147 shares during the period. Bfsg LLC acquired a new stake in shares of Intuit during the third quarter valued at $901,000. Brookstone Capital Management boosted its holdings in shares of Intuit by 14.3% during the third quarter. Brookstone Capital Management now owns 2,273 shares of the software maker’s stock worth $1,185,000 after purchasing an additional 285 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its holdings in Intuit by 3.1% in the third quarter. Sumitomo Life Insurance Co. now owns 8,327 shares of the software maker’s stock valued at $4,255,000 after purchasing an additional 252 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Barclays boosted 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. KeyCorp increased their target price on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Piper Sandler boosted their price objective on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus increased their price objective on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, 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 transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by corporate insiders.

Intuit Trading Up 1.0 %

NASDAQ INTU traded up $6.13 on Monday, reaching $642.68. The stock had a trading volume of 267,436 shares, compared to its average volume of 1,237,592. The stock has a fifty day moving average price of $640.26 and a two-hundred day moving average price of $603.61. The firm has a market capitalization of $179.95 billion, a price-to-earnings ratio of 65.72, a P/E/G ratio of 3.88 and a beta of 1.21. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

About Intuit

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.