Baader Bank Aktiengesellschaft Has $1.92 Million Position in Intuit Inc. (NASDAQ:INTU)

Baader Bank Aktiengesellschaft reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 46.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,060 shares of the software maker's stock after selling 2,674 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Intuit were worth $1,923,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Brown Financial Advisors lifted its stake in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker's stock worth $1,018,000 after purchasing an additional 15 shares during the last quarter. Truvestments Capital LLC raised its stake in Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker's stock valued at $669,000 after buying an additional 16 shares during the last quarter. CVA Family Office LLC raised its stake in Intuit by 3.3% in the third quarter. CVA Family Office LLC now owns 531 shares of the software maker's stock valued at $330,000 after buying an additional 17 shares during the last quarter. Chris Bulman Inc raised its stake in 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 buying an additional 17 shares during the last quarter. Finally, Freedom Day Solutions LLC raised its stake in Intuit by 0.4% in the third quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker's stock valued at $2,599,000 after buying an additional 17 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company's stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company's stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research reports. Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. Piper Sandler restated an "overweight" rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Oppenheimer boosted their price objective on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Finally, BNP Paribas lowered Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Intuit presently has an average rating of "Moderate Buy" and an average price target of $726.53.

Intuit Price Performance

Shares of INTU traded up $9.43 during mid-day trading on Thursday, hitting $602.42. The company's stock had a trading volume of 544,204 shares, compared to its average volume of 1,669,712. 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 firm has a 50-day simple moving average of $633.22 and a 200 day simple moving average of $634.26. The firm has a market capitalization of $168.63 billion, a P/E ratio of 58.44, a P/E/G ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.14 billion. During the same period last year, the firm earned $1.14 EPS. The company's quarterly revenue was up 10.2% compared to the same quarter last year. Analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit's payout ratio is 40.39%.

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.