Intuit Inc. (NASDAQ:INTU) Shares Sold by XML Financial LLC

XML Financial LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 8.9% during the first quarter, HoldingsChannel.com reports. The fund owned 360 shares of the software maker’s stock after selling 35 shares during the period. XML Financial LLC’s holdings in Intuit were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. NewSquare Capital LLC increased its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Ethos Financial Group LLC increased its stake in Intuit by 3.7% in the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker’s stock valued at $319,000 after buying an additional 18 shares during the period. Legacy Investment Solutions LLC increased its stake in Intuit by 18.0% in the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker’s stock valued at $68,000 after buying an additional 18 shares during the period. Financial Management Professionals Inc. increased its stake in Intuit by 18.4% in the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker’s stock valued at $71,000 after buying an additional 18 shares during the period. Finally, Chris Bulman Inc increased its stake in Intuit by 1.2% in the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker’s stock valued at $935,000 after buying an additional 18 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on INTU. UBS Group set a $750.00 price objective on shares of Intuit and gave the company a “neutral” rating in a research note on Friday, May 23rd. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Bank of America boosted their price objective on shares of Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Piper Sandler reissued an “overweight” rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $787.95.

Intuit Price Performance

Shares of NASDAQ INTU opened at $759.03 on Wednesday. The stock has a market cap of $211.73 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 3.39 and a beta of 1.28. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The company’s 50-day moving average price is $689.57 and its 200 day moving average price is $636.00. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $9.88 EPS. As a group, research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. Intuit’s payout ratio is 33.77%.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total transaction of $340,025.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $13,775. This trade represents a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,158 shares of company stock valued at $202,989,194. 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.