Capital Investment Advisors LLC Decreases Stake in Intuit Inc. (NASDAQ:INTU)

Capital Investment Advisors LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU – Get Rating) by 38.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,749 shares of the software maker’s stock after selling 1,095 shares during the quarter. Capital Investment Advisors LLC’s holdings in Intuit were worth $681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of INTU. Sunbelt Securities Inc. grew its holdings in shares of Intuit by 41.9% in the third quarter. Sunbelt Securities Inc. now owns 2,860 shares of the software maker’s stock worth $1,108,000 after acquiring an additional 844 shares during the period. Lido Advisors LLC grew its holdings in Intuit by 16.9% during the third quarter. Lido Advisors LLC now owns 1,527 shares of the software maker’s stock valued at $591,000 after purchasing an additional 221 shares during the period. M Holdings Securities Inc. grew its holdings in Intuit by 26.4% during the third quarter. M Holdings Securities Inc. now owns 733 shares of the software maker’s stock valued at $284,000 after purchasing an additional 153 shares during the period. Victory Capital Management Inc. grew its holdings in Intuit by 35.5% during the third quarter. Victory Capital Management Inc. now owns 269,085 shares of the software maker’s stock valued at $104,222,000 after purchasing an additional 70,425 shares during the period. Finally, PDT Partners LLC bought a new stake in Intuit during the second quarter valued at about $2,049,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup boosted their price target on Intuit from $457.00 to $475.00 and gave the company a “buy” rating in a report on Monday, February 27th. Piper Sandler boosted their price objective on Intuit from $459.00 to $510.00 and gave the company an “overweight” rating in a research report on Friday, February 24th. Wells Fargo & Company lowered their price objective on Intuit from $525.00 to $475.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on Intuit from $560.00 to $525.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Finally, UBS Group started coverage on Intuit in a research report on Wednesday. They issued a “neutral” rating and a $430.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $483.53.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $413.69 on Friday. The company has a 50-day simple moving average of $408.58 and a 200-day simple moving average of $404.01. Intuit Inc. has a one year low of $339.36 and a one year high of $507.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $116.06 billion, a price-to-earnings ratio of 60.66, a PEG ratio of 3.03 and a beta of 1.16.

Intuit (NASDAQ:INTU – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The software maker reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.76. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Intuit had a net margin of 14.22% and a return on equity of 14.89%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. On average, analysts predict that Intuit Inc. will post 9.01 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 18th. Investors of record on Monday, April 10th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $3.12 annualized dividend and a yield of 0.75%. Intuit’s dividend payout ratio is currently 45.75%.

Insider Buying and Selling

In related news, Director Eve B. Burton sold 4,539 shares of the stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $412.57, for a total transaction of $1,872,655.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP James Alexander Chriss sold 597 shares of the firm’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the completion of the sale, the executive vice president now directly owns 344 shares of the company’s stock, valued at approximately $137,600. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eve B. Burton sold 4,539 shares of Intuit stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $412.57, for a total transaction of $1,872,655.23. The disclosure for this sale can be found here. Insiders sold 7,925 shares of company stock valued at $3,258,123 over the last ninety days. Corporate insiders own 3.18% of the company’s stock.

About Intuit

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.