Stonegate Investment Group LLC Has $4.50 Million Stake in Intuit Inc. (NASDAQ:INTU)

Stonegate Investment Group LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 27.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,167 shares of the software maker's stock after selling 2,749 shares during the quarter. Stonegate Investment Group LLC's holdings in Intuit were worth $4,504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new stake in Intuit during the 3rd quarter valued at approximately $27,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the 4th quarter valued at approximately $29,000. Denver PWM LLC acquired a new stake in shares of Intuit during the third quarter worth approximately $32,000. Dunhill Financial LLC raised its holdings in Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker's stock valued at $38,000 after acquiring an additional 32 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its stake in Intuit by 6,500.0% during the 4th quarter. AlphaMark Advisors LLC now owns 66 shares of the software maker's stock valued at $41,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now 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 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 ninety days. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

INTU stock traded down $3.35 on Friday, hitting $601.26. 815,367 shares of the company's stock traded hands, compared to its average volume of 1,658,152. The stock has a market cap of $168.30 billion, a price-to-earnings ratio of 58.37, a P/E/G ratio of 2.92 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. 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 fifty day moving average of $631.72 and a 200-day moving average of $634.06.

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

Intuit Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit's dividend payout ratio is presently 40.39%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the stock an "equal weight" rating in a research note on Friday, November 22nd. Piper Sandler reiterated an "overweight" rating and issued a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $726.53.

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.