TD Private Client Wealth LLC Sells 663 Shares of Intuit Inc. (NASDAQ:INTU)

TD Private Client Wealth LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,314 shares of the software maker’s stock after selling 663 shares during the quarter. TD Private Client Wealth LLC’s holdings in Intuit were worth $5,163,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after buying an additional 483,621 shares in the last quarter. Holocene Advisors LP increased its stake in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Intuit during the second quarter valued at about $184,982,000. Ameriprise Financial Inc. lifted its stake in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,032 shares of company stock worth $76,314,242. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INTU. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. Piper Sandler lowered their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Barclays cut their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Jefferies Financial Group boosted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Price Performance

Shares of NASDAQ INTU opened at $647.07 on Wednesday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock has a market capitalization of $181.13 billion, a P/E ratio of 62.82, a P/E/G ratio of 3.19 and a beta of 1.25. The company’s 50-day moving average is $635.59 and its 200 day moving average is $630.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for 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 business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS. On average, sell-side analysts expect that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is currently 40.39%.

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.