Islay Capital Management LLC Trims Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Islay Capital Management LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 42.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117 shares of the software maker’s stock after selling 88 shares during the quarter. Islay Capital Management LLC’s holdings in Intuit were worth $74,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC boosted its position 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 acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Intuit in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new position in Intuit in the 4th quarter valued at $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the 4th quarter worth $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,862 shares of company stock valued at $18,767,673 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on INTU shares. BMO Capital Markets dropped their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. Mizuho boosted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research note on Wednesday, February 26th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $718.00.

Intuit Stock Performance

NASDAQ:INTU opened at $561.53 on Friday. The firm has a 50-day moving average of $595.64 and a two-hundred day moving average of $620.96. 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 stock has a market cap of $156.98 billion, a P/E ratio of 54.52, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.74%. Intuit’s dividend payout ratio is presently 38.81%.

Intuit Company 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.