E Fund Management Co. Ltd. Has $3.01 Million Holdings in Intuit Inc. (NASDAQ:INTU)

E Fund Management Co. Ltd. lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,820 shares of the software maker’s stock after selling 364 shares during the period. E Fund Management Co. Ltd.’s holdings in Intuit were worth $3,013,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Desjardins Global Asset Management Inc. lifted its position in Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares during the period. GAM Holding AG boosted its position in shares of Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after acquiring an additional 17 shares in the last quarter. Janiczek Wealth Management LLC increased its stake in Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after acquiring an additional 17 shares during the last quarter. Clear Harbor Asset Management LLC raised its position in Intuit by 0.4% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock valued at $3,027,000 after purchasing an additional 18 shares in the last quarter. Finally, Glenview Trust co lifted its stake in Intuit by 1.9% during the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Down 0.9 %

Shares of INTU traded down $5.57 during trading hours on Thursday, hitting $626.86. 1,291,375 shares of the stock were exchanged, compared to its average volume of 1,228,749. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The business has a 50-day moving average of $635.87 and a 200-day moving average of $608.61. The firm has a market capitalization of $175.52 billion, a P/E ratio of 63.97, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

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

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

Insider Activity

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,717 shares of company stock worth $3,117,156. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Wells Fargo & Company lifted their price target on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. 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 note on Friday, February 23rd. Finally, Piper Sandler boosted their target price 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. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $650.23.

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.