Scott & Selber Inc. Sells 60 Shares of Intuit Inc. (NASDAQ:INTU)

Scott & Selber Inc. reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,254 shares of the software maker’s stock after selling 60 shares during the period. Scott & Selber Inc.’s holdings in Intuit were worth $2,659,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. OFI Invest Asset Management bought a new position in Intuit in the third quarter valued at about $51,000. V Square Quantitative Management LLC raised its position in Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after purchasing an additional 482 shares during the last quarter. Compagnie Lombard Odier SCmA raised its position in Intuit by 27.5% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after purchasing an additional 1,900 shares during the last quarter. Glenmede Trust Co. NA raised its position in Intuit by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after purchasing an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC bought a new position in Intuit in the fourth quarter valued at about $1,292,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

Intuit stock traded up $4.60 during midday trading on Monday, hitting $609.77. 1,043,243 shares of the company’s stock were exchanged, compared to its average volume of 1,241,667. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The stock has a 50-day moving average price of $642.93 and a two-hundred day moving average price of $600.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $170.74 billion, a P/E ratio of 61.54, a PEG ratio of 3.68 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 analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm 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 business earned $1.05 EPS. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders 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 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays raised their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. KeyCorp raised their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. 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. Wells Fargo & Company raised their price objective on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Finally, Piper Sandler raised their price objective on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $645.00.

Insider Transactions at Intuit

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