Nvwm LLC Sells 20 Shares of Intuit Inc. (NASDAQ:INTU)

Nvwm LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,656 shares of the software maker’s stock after selling 20 shares during the period. Nvwm LLC’s holdings in Intuit were worth $1,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC bought a new stake in shares of Intuit during the second quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new position in Intuit during the second quarter valued at $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last quarter. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Bank of America boosted their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group raised their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Stock Performance

Intuit stock traded up $11.44 during midday trading on Friday, reaching $621.74. 1,436,999 shares of the company traded hands, compared to its average volume of 1,183,744. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 12 month low of $489.55 and a 12 month high of $676.62. The firm has a market capitalization of $174.27 billion, a price-to-earnings ratio of 59.50, a price-to-earnings-growth ratio of 2.98 and a beta of 1.25. The business has a 50 day moving average of $622.92 and a two-hundred day moving average of $626.54.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the firm earned $0.40 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. As a group, research analysts predict that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 39.81%.

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.