Intuit Inc. (NASDAQ:INTU) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 7.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,820 shares of the software maker’s stock after selling 364 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Intuit were worth $3,013,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. OFI Invest Asset Management purchased a new stake in Intuit during the 3rd quarter valued at approximately $51,000. V Square Quantitative Management LLC boosted its holdings in shares of Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after acquiring an additional 482 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Intuit by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock worth $13,293,000 after acquiring an additional 226 shares during the period. Glenmede Trust Co. NA raised its holdings in Intuit by 12.7% during the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after purchasing an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC acquired a new stake in Intuit in the fourth quarter valued at about $1,292,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In related news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Intuit Trading Down 0.9 %

Shares of INTU stock traded down $5.57 during mid-day trading on Thursday, hitting $626.86. 1,291,375 shares of the company’s stock were exchanged, compared to its average volume of 1,228,749. The stock has a market cap of $175.52 billion, a price-to-earnings ratio of 63.97, a PEG ratio of 3.83 and a beta of 1.22. The stock has a 50-day simple moving average of $635.87 and a two-hundred day simple moving average of $608.61. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week 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.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. Equities analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

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 dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Analyst Ratings Changes

Several research firms have recently commented on INTU. Wells Fargo & Company raised their price target on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Mizuho raised their price objective on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Evercore ISI boosted their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Piper Sandler increased their target price on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently 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.