William Allan Corp Sells 66 Shares of Intuit Inc. (NASDAQ:INTU)

by · The Markets Daily

William Allan Corp trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,177 shares of the software maker’s stock after selling 66 shares during the quarter. Intuit makes up 1.6% of William Allan Corp’s holdings, making the stock its 29th biggest holding. William Allan Corp’s holdings in Intuit were worth $2,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter valued at $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit during the 2nd quarter valued at about $26,000. Fairway Wealth LLC acquired a new stake in Intuit during the second quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit in the third quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit in the second quarter worth approximately $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. The trade was a 99.32 % 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, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The trade was a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,265 shares of company stock valued at $83,336,625 in the last ninety days. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on INTU. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Piper Sandler decreased their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Get Our Latest Research Report on Intuit

Intuit Stock Down 0.4 %

Intuit stock opened at $636.17 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 debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s 50-day simple moving average is $634.16 and its 200 day simple moving average is $631.36. The stock has a market cap of $178.15 billion, a PE ratio of 61.76, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25.

Intuit (NASDAQ:INTU – Get Free Report) last announced 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 company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. Research analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Intuit Profile

(Free Report)

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.

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