Tranquility Partners LLC Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Tranquility Partners LLC lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 15.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 529 shares of the software maker’s stock after selling 95 shares during the quarter. Tranquility Partners LLC’s holdings in Intuit were worth $331,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INTU. NewSquare Capital LLC purchased a new stake in Intuit in the third quarter valued at approximately $25,000. Cape Investment Advisory Inc. purchased a new stake in shares of Intuit during the third quarter worth $26,000. Steward Financial Group LLC increased its position in shares of Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after acquiring an additional 20 shares during the period. Aspire Private Capital LLC increased its position in shares of Intuit by 144.4% during the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after acquiring an additional 39 shares during the period. Finally, Webster Bank N. A. purchased a new stake in shares of Intuit during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. Piper Sandler upped their price objective on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. 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 research note on Wednesday, February 21st. Barclays upped their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Susquehanna upped their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Trading Down 0.1 %

Shares of INTU stock traded down $0.37 during mid-day trading on Thursday, reaching $612.84. The company’s stock had a trading volume of 103,800 shares, compared to its average volume of 1,234,467. The company’s 50 day simple moving average is $644.88 and its 200-day simple moving average is $598.39. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $171.60 billion, a PE ratio of 62.57, a price-to-earnings-growth ratio of 3.72 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued 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. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the firm posted $1.05 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s dividend payout ratio is currently 36.73%.

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.