Forsta AP Fonden Sells 500 Shares of Intuit Inc. (NASDAQ:INTU)

Forsta AP Fonden lessened its stake in Intuit Inc. (NASDAQ:INTU) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 83,000 shares of the software maker’s stock after selling 500 shares during the quarter. Forsta AP Fonden’s holdings in Intuit were worth $52,166,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in Intuit in the 4th quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the third quarter worth about $27,000. Sugar Maple Asset Management LLC bought a new position in Intuit during the fourth quarter valued at approximately $29,000. Denver PWM LLC bought a new position in Intuit during the third quarter valued at approximately $32,000. Finally, Dunhill Financial LLC grew its holdings in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Stifel Nicolaus lowered their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Finally, Barclays dropped their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $600.66 on Wednesday. The firm’s 50 day simple moving average is $634.37 and its 200-day simple moving average is $634.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The firm has a market cap of $168.14 billion, a PE ratio of 58.32, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping 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 company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the business posted $1.14 EPS. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued 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 payout ratio is 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated 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 $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

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.