Summit Trail Advisors LLC Sells 72 Shares of Intuit Inc. (NASDAQ:INTU)

Summit Trail Advisors LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,035 shares of the software maker’s stock after selling 72 shares during the period. Summit Trail Advisors LLC’s holdings in Intuit were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. NewSquare Capital LLC bought a new position in Intuit in the 3rd quarter worth $25,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Intuit in the fourth quarter valued at about $25,000. Cape Investment Advisory Inc. bought a new position in Intuit in the 3rd quarter worth approximately $26,000. MCF Advisors LLC increased its holdings in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Aspire Private Capital LLC lifted its position in shares of Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after buying an additional 39 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In related news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was 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. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 in the last three months. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on INTU. Susquehanna increased their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Mizuho increased their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Stifel Nicolaus lifted their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Finally, Piper Sandler upped their price target on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

Intuit Stock Up 0.9 %

NASDAQ:INTU traded up $5.37 during midday trading on Monday, reaching $634.64. 802,874 shares of the stock traded hands, compared to its average volume of 1,237,341. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $177.70 billion, a PE ratio of 64.11, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The business has a 50-day moving average of $637.56 and a two-hundred day moving average of $606.70.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. Intuit’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s payout ratio is 36.73%.

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.