Intuit Inc. (NASDAQ:INTU) Shares Sold by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. cut its position in Intuit Inc. (NASDAQ:INTU) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,864 shares of the software maker’s stock after selling 1,806 shares during the quarter. Intuit makes up 3.4% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 10th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Intuit were worth $44,917,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INTU. Valmark Advisers Inc. lifted its position in Intuit by 19.6% during the 4th quarter. Valmark Advisers Inc. now owns 1,763 shares of the software maker’s stock worth $1,102,000 after acquiring an additional 289 shares during the period. Gilliland Jeter Wealth Management LLC acquired a new stake in Intuit during the 4th quarter worth approximately $271,000. Kovack Advisors Inc. acquired a new stake in Intuit during the 4th quarter worth approximately $299,000. K.J. Harrison & Partners Inc acquired a new stake in Intuit during the 4th quarter worth approximately $313,000. Finally, Overbrook Management Corp lifted its position in Intuit by 37.3% during the 4th quarter. Overbrook Management Corp now owns 36,300 shares of the software maker’s stock worth $22,689,000 after acquiring an additional 9,857 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Up 1.6 %

Shares of INTU stock traded up $10.16 during mid-day trading on Friday, hitting $636.55. 1,192,496 shares of the company’s 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 stock has a 50-day simple moving average of $640.26 and a two-hundred day simple moving average of $602.74. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $178.23 billion, a price-to-earnings ratio of 64.95, a PEG 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 (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is 36.73%.

Analysts Set New Price Targets

A number of analysts have weighed in on INTU shares. Piper Sandler increased their price objective on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. KeyCorp increased their target price on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Wells Fargo & Company increased their target price on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Susquehanna increased their target price on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Finally, Evercore ISI raised their price objective on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Insider Transactions at Intuit

In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 over the last quarter. 2.90% of the stock is currently owned by insiders.

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.