Whipplewood Advisors LLC Has $40,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Whipplewood Advisors LLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 33.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 65 shares of the software maker’s stock after selling 33 shares during the period. Whipplewood Advisors LLC’s holdings in Intuit were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NewSquare Capital LLC grew its holdings in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares in the last quarter. Ethos Financial Group LLC grew its stake in shares of Intuit by 3.7% in the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker’s stock worth $319,000 after acquiring an additional 18 shares in the last quarter. Legacy Investment Solutions LLC grew its stake in shares of Intuit by 18.0% in the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker’s stock worth $68,000 after acquiring an additional 18 shares in the last quarter. Plancorp LLC raised its holdings in shares of Intuit by 2.2% in the fourth quarter. Plancorp LLC now owns 889 shares of the software maker’s stock valued at $559,000 after purchasing an additional 19 shares during the last quarter. Finally, Kolinsky Wealth Management LLC lifted its position in shares of Intuit by 1.6% during the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker’s stock valued at $749,000 after purchasing an additional 19 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

NASDAQ:INTU opened at $766.81 on Thursday. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $768.95. The business’s fifty day moving average is $640.03 and its 200 day moving average is $624.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $213.90 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $9.88 earnings per share. Research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio is 33.77%.

Insider Buying and Selling

In other Intuit news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 16,185 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $753.21, for a total transaction of $12,190,703.85. Following the completion of the transaction, the executive vice president now owns 22,796 shares of the company’s stock, valued at $17,170,175.16. This trade represents a 41.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,804 shares of company stock worth $138,081,963 over the last ninety days. 2.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent analyst reports. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Piper Sandler restated an “overweight” rating and issued a $825.00 target price (up previously from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $785.00 target price (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Finally, Bank of America boosted their price objective on Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $785.33.

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.