Regent Peak Wealth Advisors LLC Has $662,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Regent Peak Wealth Advisors LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 11.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,077 shares of the software maker’s stock after selling 136 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Intuit were worth $662,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of INTU. Norges Bank acquired a new stake in Intuit in the fourth quarter valued at about $2,290,419,000. GAMMA Investing LLC boosted its stake in shares of Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock valued at $17,348,790,000 after purchasing an additional 2,821,534 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after buying an additional 771,232 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INTU has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Bank of America lifted their target price on shares of Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. The Goldman Sachs Group lifted their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Evercore ISI lifted their target price on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a research report on Friday, May 23rd. Finally, Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong 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 $785.33.

Intuit Stock Performance

NASDAQ:INTU opened at $771.58 on Friday. The company has a fifty day moving average of $646.24 and a 200-day moving average of $626.21. The firm has a market capitalization of $215.23 billion, a P/E ratio of 74.91, a P/E/G ratio of 2.85 and a beta of 1.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.88 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit’s dividend payout ratio is currently 33.77%.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total transaction of $340,025.00. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $13,775. This trade represents a 96.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,592 shares of company stock worth $165,325,437 in the last quarter. 2.68% of the stock is 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.