TCV Trust & Wealth Management Inc. Sells 35 Shares of Intuit Inc. (NASDAQ:INTU)

TCV Trust & Wealth Management Inc. trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,147 shares of the software maker’s stock after selling 35 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Intuit were worth $6,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Financial Advisors increased its holdings in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares during the last quarter. Truvestments Capital LLC grew its position in shares of Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after acquiring an additional 16 shares during the period. Chris Bulman Inc increased its stake in shares of Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after purchasing an additional 17 shares in the last quarter. Freedom Day Solutions LLC raised its holdings in Intuit by 0.4% in the 3rd quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock worth $2,599,000 after purchasing an additional 17 shares during the period. Finally, Covenant Partners LLC lifted its position in Intuit by 3.4% during the third quarter. Covenant Partners LLC now owns 521 shares of the software maker’s stock valued at $324,000 after purchasing an additional 17 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on INTU shares. Piper Sandler restated an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Stifel Nicolaus reduced their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Barclays decreased their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Oppenheimer raised their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insider Activity

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The shares were 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 trade represents a 36.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,300 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total transaction of $814,346.00. Following the completion of the sale, the chief financial officer now directly owns 644 shares of the company’s stock, valued at approximately $403,414.48. The trade was a 66.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 in the last ninety days. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.2 %

Shares of NASDAQ:INTU opened at $585.88 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The business has a 50 day moving average of $625.25 and a two-hundred day moving average of $631.39. The company has a market capitalization of $164.00 billion, a PE ratio of 56.88, a PEG ratio of 2.91 and a beta of 1.24.

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

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is currently 40.39%.

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.