Twin Capital Management Inc. Reduces Holdings in Intuit Inc. (NASDAQ:INTU)

Twin Capital Management Inc. decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,847 shares of the software maker’s stock after selling 65 shares during the quarter. Twin Capital Management Inc.’s holdings in Intuit were worth $3,030,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in INTU. Norges Bank purchased a new position in shares of Intuit during the fourth quarter worth about $1,173,468,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Intuit by 118,345.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock worth $812,767,000 after buying an additional 2,086,431 shares during the last quarter. Morgan Stanley grew its holdings in shares of Intuit by 42.5% during the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after buying an additional 1,027,752 shares during the last quarter. Parnassus Investments LLC grew its holdings in shares of Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after buying an additional 609,512 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Intuit by 61.5% during the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after buying an additional 514,259 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Alex G. Balazs sold 280 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $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 valued at $3,117,156. Company insiders own 2.90% of the company’s stock.

Intuit Trading Down 0.9 %

INTU stock traded down $5.39 during midday trading on Thursday, hitting $607.82. The stock had a trading volume of 297,981 shares, compared to its average volume of 1,237,135. The firm has a market cap of $170.19 billion, a PE ratio of 62.54, a price-to-earnings-growth ratio of 3.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company’s 50-day moving average price is $644.88 and its 200 day moving average price is $598.39.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. 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 previous year, the company earned $1.05 EPS. Intuit’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s dividend payout ratio (DPR) is 36.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INTU. Oppenheimer raised their price objective on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Mizuho raised their price objective on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. raised their price objective 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. Finally, Piper Sandler raised their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Company 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.