Haverford Trust Co Sells 510 Shares of Intuit Inc. (NASDAQ:INTU)

Haverford Trust Co lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,403 shares of the software maker’s stock after selling 510 shares during the quarter. Haverford Trust Co’s holdings in Intuit were worth $32,935,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. ICW Investment Advisors LLC lifted its stake in shares of Intuit by 33.8% in the 4th quarter. ICW Investment Advisors LLC now owns 1,295 shares of the software maker’s stock valued at $814,000 after purchasing an additional 327 shares during the last quarter. Corebridge Financial Inc. raised its holdings in Intuit by 0.6% during the fourth quarter. Corebridge Financial Inc. now owns 96,134 shares of the software maker’s stock valued at $60,420,000 after buying an additional 591 shares in the last quarter. Congress Wealth Management LLC DE lifted its position in shares of Intuit by 2.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 30,207 shares of the software maker’s stock worth $18,986,000 after buying an additional 584 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after acquiring an additional 353,185 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Intuit by 4.4% during the 4th quarter. LPL Financial LLC now owns 203,766 shares of the software maker’s stock valued at $127,887,000 after acquiring an additional 8,591 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTU has been the topic of several analyst reports. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Piper Sandler restated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Scotiabank reduced their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,348 shares of company stock worth $73,515,245 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Up 0.6 %

NASDAQ:INTU opened at $604.04 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a market cap of $168.87 billion, a P/E ratio of 58.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a 50 day moving average price of $596.08 and a two-hundred day moving average price of $622.80.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s payout ratio is presently 38.81%.

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.