Intuit Inc. (NASDAQ:INTU) Shares Sold by RFG Advisory LLC

RFG Advisory LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 10.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,824 shares of the software maker’s stock after selling 325 shares during the period. RFG Advisory LLC’s holdings in Intuit were worth $1,775,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the period. Harvest Portfolios Group Inc. boosted its stake in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC grew its position in Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares during the last quarter. Retireful LLC acquired a new stake in shares of Intuit in the third quarter valued at approximately $740,000. Finally, Whalen Wealth Management Inc. bought a new stake in shares of Intuit during the fourth quarter valued at approximately $621,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Barclays lowered their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Performance

Intuit stock opened at $597.95 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm’s 50 day simple moving average is $636.69 and its 200-day simple moving average is $635.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $167.38 billion, a P/E ratio of 58.05, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 EPS. As a group, equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. Intuit’s payout ratio is presently 40.39%.

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.