Mogy Joel R Investment Counsel Inc. Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Mogy Joel R Investment Counsel Inc. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 71,864 shares of the software maker’s stock after selling 1,806 shares during the period. Intuit comprises approximately 3.4% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 10th largest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Intuit were worth $44,917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC bought a new stake in Intuit during the 3rd quarter worth about $25,000. Cape Investment Advisory Inc. bought a new stake in Intuit during the 3rd quarter worth about $26,000. MCF Advisors LLC lifted its position in Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares in the last quarter. Steward Financial Group LLC lifted its position in Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after buying an additional 20 shares in the last quarter. Finally, Aspire Private Capital LLC lifted its position in Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after buying an additional 39 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Mizuho boosted their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Susquehanna boosted their price objective on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Oppenheimer boosted their price objective on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, KeyCorp boosted their price objective on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $650.23.

Intuit Trading Up 1.6 %

Shares of INTU traded up $10.16 during trading hours on Friday, hitting $636.55. 1,192,496 shares of the stock were exchanged, compared to its average volume of 1,208,945. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The business has a 50-day moving average of $640.26 and a 200-day moving average of $602.74. The firm has a market capitalization of $178.23 billion, a P/E ratio of 64.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the company posted $1.05 earnings per share. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

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.