Southern Capital Advisors LLC Reduces Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Southern Capital Advisors LLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,459 shares of the software maker’s stock after selling 165 shares during the quarter. Intuit accounts for 1.2% of Southern Capital Advisors LLC’s holdings, making the stock its 21st biggest holding. Southern Capital Advisors LLC’s holdings in Intuit were worth $2,174,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

INTU has been the topic of a number of research analyst reports. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley upped their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $765.00 target price on shares of Intuit in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Insider Activity

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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 Price Performance

Shares of NASDAQ INTU opened at $604.60 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a market cap of $169.24 billion, a PE ratio of 58.70, a P/E/G ratio of 2.92 and a beta of 1.25. 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 50-day simple moving average of $631.72 and a two-hundred day simple moving average of $634.06.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Intuit’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s payout ratio is presently 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.