Charles Carroll Financial Partners LLC Cuts Stake in Intuit Inc. (NASDAQ:INTU)

Charles Carroll Financial Partners LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 0.3% in the fourth quarter, HoldingsChannel reports. The firm owned 8,307 shares of the software maker’s stock after selling 25 shares during the period. Intuit accounts for approximately 5.6% of Charles Carroll Financial Partners LLC’s portfolio, making the stock its 7th biggest holding. Charles Carroll Financial Partners LLC’s holdings in Intuit were worth $5,192,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Desjardins Global Asset Management Inc. boosted its stake in shares of Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after buying an additional 16 shares during the period. GAM Holding AG lifted its position in shares of Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares during the period. Janiczek Wealth Management LLC grew its holdings in shares of Intuit by 2.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after purchasing an additional 17 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Intuit by 0.4% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock worth $3,027,000 after purchasing an additional 18 shares during the period. Finally, Glenview Trust co raised its stake in Intuit by 1.9% in the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after purchasing an additional 19 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on INTU. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. KeyCorp boosted their price objective on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Wells Fargo & Company raised their target price on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Piper Sandler boosted their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Oppenheimer raised their price objective on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity at Intuit

In other news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, 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 SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the business’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 90 days, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by company insiders.

Intuit Stock Up 2.5 %

Intuit stock traded up $15.23 during midday trading on Friday, hitting $629.27. 1,109,512 shares of the stock were exchanged, compared to its average volume of 1,209,705. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. 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 business’s 50-day moving average price is $637.56 and its 200-day moving average price is $605.68. The stock has a market capitalization of $176.20 billion, a price-to-earnings ratio of 64.21, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22.

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

Intuit Announces Dividend

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

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.