BBR Partners LLC Reduces Stock Position in Intuit Inc. (NASDAQ:INTU)

BBR Partners LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 596 shares of the software maker’s stock after selling 21 shares during the quarter. BBR Partners LLC’s holdings in Intuit were worth $370,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC grew its stake in Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after buying an additional 107,482 shares during the last quarter. Legal & General Group Plc boosted its position in Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after acquiring an additional 23,995 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Intuit by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after buying an additional 26,914 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Intuit by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after buying an additional 56,370 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,265 shares of company stock valued at $83,336,625 over the last three months. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on INTU. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Bank of America upped their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Piper Sandler decreased their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Down 0.4 %

Shares of INTU opened at $636.17 on Thursday. The firm has a market capitalization of $178.15 billion, a price-to-earnings ratio of 61.76, a PEG ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business’s fifty day moving average price is $634.52 and its two-hundred day moving average price is $631.32. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS. On average, analysts predict that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. Intuit’s payout ratio is 40.39%.

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.