Curi RMB Capital LLC Lowers Position in Intuit Inc. (NASDAQ:INTU)

Curi RMB Capital LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,194 shares of the software maker’s stock after selling 4,995 shares during the quarter. Curi RMB Capital LLC’s holdings in Intuit were worth $18,977,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of INTU. R Squared Ltd acquired a new stake in Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the period. Summit Securities Group LLC acquired a new stake in Intuit during the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new stake in Intuit in the fourth quarter valued at $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 over the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.5 %

Shares of INTU opened at $585.38 on Friday. The firm has a 50 day simple moving average of $592.03 and a 200-day simple moving average of $616.49. The stock has a market cap of $163.65 billion, a price-to-earnings ratio of 56.83, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Analysts Set New Price Targets

INTU has been the subject of several recent analyst reports. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group reduced their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research note on Monday, March 31st. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $718.56.

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.