Natixis Investment Managers International Sells 58 Shares of Intuit Inc. (NASDAQ:INTU)

Natixis Investment Managers International trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 14.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 342 shares of the software maker’s stock after selling 58 shares during the period. Natixis Investment Managers International’s holdings in Intuit were worth $214,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. purchased a new stake in Intuit in the 4th quarter valued at about $25,000. MCF Advisors LLC lifted its position in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Intuit in the 4th quarter worth approximately $38,000. Sachetta LLC purchased a new stake in shares of Intuit in the 4th quarter worth approximately $39,000. Finally, Webster Bank N. A. purchased a new stake in shares of Intuit in the 4th quarter worth approximately $41,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,908 shares of company stock worth $54,521,562. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on INTU shares. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Piper Sandler boosted their price objective on shares of Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Stifel Nicolaus reduced their price objective on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research note on Friday, May 24th. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Finally, Bank of America cut their price target on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $679.41.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $1.25 during midday trading on Friday, hitting $573.90. The company’s stock had a trading volume of 1,048,593 shares, compared to its average volume of 1,577,047. The business’s 50 day simple moving average is $622.14 and its 200 day simple moving average is $623.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $160.43 billion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 3.28 and a beta of 1.21. Intuit Inc. has a 12-month low of $419.30 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping the consensus estimate of $8.12 by $1.76. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $7.80 earnings per share. On average, analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.63%. The ex-dividend date is Wednesday, July 10th. Intuit’s payout ratio is currently 33.21%.

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.