Bell Investment Advisors Inc Sells 62 Shares of Intuit Inc. (NASDAQ:INTU)

Bell Investment Advisors Inc decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 933 shares of the software maker’s stock after selling 62 shares during the period. Bell Investment Advisors Inc’s holdings in Intuit were worth $579,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Silvercrest Asset Management Group LLC lifted its position in shares of Intuit by 15.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 10,769 shares of the software maker’s stock worth $7,000,000 after acquiring an additional 1,468 shares in the last quarter. Redwood Investment Management LLC purchased a new stake in Intuit during the 1st quarter worth about $344,000. Tidal Investments LLC boosted its stake in Intuit by 42.0% in the 1st quarter. Tidal Investments LLC now owns 14,136 shares of the software maker’s stock worth $9,188,000 after purchasing an additional 4,182 shares during the period. Jaffetilchin Investment Partners LLC purchased a new position in Intuit during the 1st quarter valued at about $211,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of Intuit during the first quarter valued at about $131,000. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

INTU traded down $0.99 during midday trading on Wednesday, hitting $637.84. The stock had a trading volume of 167,989 shares, compared to its average volume of 1,360,763. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business has a fifty day moving average of $634.46 and a 200 day moving average of $631.29. The company has a market cap of $178.62 billion, a P/E ratio of 62.02, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (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 analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. As a group, equities analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. Intuit’s dividend payout ratio is currently 40.39%.

Analyst Ratings Changes

A number of equities analysts have recently commented on INTU shares. Piper Sandler cut their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley increased their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Buying and Selling

In related news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,265 shares of company stock worth $35,200,125 in the last ninety days. 2.90% of the stock is owned by insiders.

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.