Vestmark Advisory Solutions Inc. Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

Vestmark Advisory Solutions Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,048 shares of the software maker’s stock after selling 802 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Intuit were worth $3,780,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of INTU. NewSquare Capital LLC purchased a new position in Intuit in the third quarter worth $25,000. DiNuzzo Private Wealth Inc. purchased a new position in Intuit in the fourth quarter worth $25,000. Cape Investment Advisory Inc. purchased a new position in Intuit in the third quarter worth $26,000. MCF Advisors LLC raised its position in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Finally, Aspire Private Capital LLC raised its position in Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of several research analyst reports. Piper Sandler increased their price objective on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Oppenheimer upped their target price on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Mizuho upped their target price on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $650.23.

Intuit Trading Up 2.5 %

NASDAQ:INTU traded up $15.23 during mid-day trading on Friday, reaching $629.27. The company’s stock had a trading volume of 1,109,512 shares, compared to its average volume of 1,209,705. The stock has a market cap of $176.20 billion, a P/E ratio of 64.21, a P/E/G ratio of 3.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The company’s fifty day simple moving average is $637.56 and its two-hundred day simple moving average is $605.68.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business earned $1.05 EPS. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

Insiders Place Their Bets

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 in the last three months. 2.90% of the stock is owned by insiders.

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.