Intuit Inc. (NASDAQ:INTU) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC trimmed its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 52.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,147 shares of the software maker's stock after selling 3,423 shares during the period. Procyon Advisors LLC's holdings in Intuit were worth $1,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. International Assets Investment Management LLC increased its stake in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker's stock worth $300,768,000 after acquiring an additional 483,621 shares during the period. Holocene Advisors LP grew its position in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker's stock worth $388,487,000 after purchasing an additional 312,212 shares during the period. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after buying an additional 268,060 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker's stock valued at $1,062,578,000 after buying an additional 238,486 shares during the period. Finally, State Street Corp boosted its stake in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock worth $7,648,910,000 after buying an additional 221,885 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of analyst reports. StockNews.com downgraded Intuit from a "buy" rating to a "hold" rating in a report on Wednesday. Piper Sandler reissued an "overweight" rating and set a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They issued a "sector perform" rating and a $700.00 price objective for the company. Morgan Stanley raised their target price on Intuit from $685.00 to $730.00 and gave the company an "equal weight" rating in a research report on Friday, November 22nd. Finally, Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $726.53.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares of the company's stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last three months. Insiders own 2.68% of the company's stock.

Intuit Trading Down 0.5 %

Shares of INTU traded down $3.14 during mid-day trading on Friday, reaching $604.13. The stock had a trading volume of 2,830,783 shares, compared to its average volume of 1,248,995. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business's fifty day moving average is $646.09 and its 200 day moving average is $637.06. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a market cap of $169.11 billion, a price-to-earnings ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last released 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. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. On average, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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