Intuit Inc. (NASDAQ:INTU) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 40.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 432 shares of the software maker’s stock after selling 290 shares during the period. Malaga Cove Capital LLC’s holdings in Intuit were worth $270,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in INTU. Miracle Mile Advisors LLC grew its stake in shares of Intuit by 0.7% in the 3rd quarter. Miracle Mile Advisors LLC now owns 3,235 shares of the software maker’s stock valued at $1,653,000 after buying an additional 22 shares during the period. Sage Mountain Advisors LLC increased its stake in Intuit by 17.1% during the third quarter. Sage Mountain Advisors LLC now owns 822 shares of the software maker’s stock worth $420,000 after acquiring an additional 120 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in Intuit by 1.7% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 3,826 shares of the software maker’s stock valued at $1,955,000 after purchasing an additional 65 shares during the period. Legal Advantage Investments Inc. lifted its stake in shares of Intuit by 0.3% in the 3rd quarter. Legal Advantage Investments Inc. now owns 9,133 shares of the software maker’s stock valued at $4,666,000 after purchasing an additional 31 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of Intuit by 10.5% during the 3rd quarter. Concord Wealth Partners now owns 673 shares of the software maker’s stock worth $344,000 after purchasing an additional 64 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Mizuho raised their price target on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday. Piper Sandler upped their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Susquehanna raised their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $650.23.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction 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 SEC, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction 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 directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

INTU traded up $15.23 during trading on Friday, hitting $629.27. 1,109,512 shares of the stock were exchanged, compared to its average volume of 1,209,705. The firm has a market capitalization of $176.20 billion, a P/E ratio of 64.21, a PEG ratio of 3.74 and a beta of 1.22. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01. The stock has a fifty day moving average price of $638.17 and a two-hundred day moving average price of $605.07. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. As a group, sell-side analysts predict that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Intuit 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.