Intuit Inc. (NASDAQ:INTU) Shares Sold by Flossbach Von Storch AG

Flossbach Von Storch AG reduced its stake in Intuit Inc. (NASDAQ:INTU) by 5.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 149,044 shares of the software maker’s stock after selling 7,947 shares during the quarter. Flossbach Von Storch AG owned 0.05% of Intuit worth $93,157,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Intuit by 7.9% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,427 shares of the software maker’s stock worth $4,642,000 after acquiring an additional 544 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Intuit by 8.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 48,486 shares of the software maker’s stock worth $30,305,000 after purchasing an additional 3,681 shares in the last quarter. Oakworth Capital Inc. boosted its stake in shares of Intuit by 4.9% in the fourth quarter. Oakworth Capital Inc. now owns 830 shares of the software maker’s stock valued at $519,000 after purchasing an additional 39 shares during the period. Beam Wealth Advisors Inc. acquired a new position in shares of Intuit in the fourth quarter valued at approximately $232,000. Finally, TRUE Private Wealth Advisors increased its stake in Intuit by 18.5% during the 4th quarter. TRUE Private Wealth Advisors now owns 1,189 shares of the software maker’s stock worth $743,000 after buying an additional 186 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on INTU shares. Evercore ISI raised their price target on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Piper Sandler upped their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Oppenheimer boosted their price objective on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Stifel Nicolaus raised their target price on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, Mizuho lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Insiders Place Their Bets

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

Intuit Stock Performance

INTU stock traded up $1.72 on Wednesday, hitting $613.21. The company’s stock had a trading volume of 1,117,437 shares, compared to its average volume of 1,250,071. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $171.70 billion, a price-to-earnings ratio of 62.57, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. The firm has a 50 day moving average of $644.88 and a two-hundred day moving average of $598.39.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the company posted $1.05 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.59%. Intuit’s dividend payout ratio is currently 36.73%.

Intuit 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.