Wendell David Associates Inc. Cuts Position in Intuit Inc. (NASDAQ:INTU)

Wendell David Associates Inc. lowered its stake in Intuit Inc. (NASDAQ:INTU) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,853 shares of the software maker’s stock after selling 146 shares during the quarter. Intuit accounts for approximately 2.5% of Wendell David Associates Inc.’s portfolio, making the stock its 10th largest position. Wendell David Associates Inc.’s holdings in Intuit were worth $25,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Financial Advisors lifted its stake in shares of Intuit by 0.9% in 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 in the last quarter. Truvestments Capital LLC boosted its stake in 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 purchasing an additional 16 shares during the last quarter. Aviso Wealth Management increased its holdings in Intuit by 4.9% during the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock worth $238,000 after purchasing an additional 17 shares in the last quarter. CVA Family Office LLC raised its stake in shares of Intuit by 3.3% in the third quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after purchasing an additional 17 shares during the last quarter. Finally, Chris Bulman Inc lifted its holdings in shares of Intuit by 1.1% in the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 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 equities research analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday. Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Finally, Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % 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 over the last three months. 2.68% of the stock is owned by company insiders.

Intuit Price Performance

INTU opened at $611.68 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $171.22 billion, a P/E ratio of 59.39, a PEG ratio of 3.00 and a beta of 1.25. The stock has a 50-day moving average price of $642.42 and a 200-day moving average price of $635.95. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

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

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is 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.