Crown Wealth Group LLC Sells 33 Shares of Intuit Inc. (NASDAQ:INTU)

Crown Wealth Group LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362 shares of the software maker’s stock after selling 33 shares during the quarter. Crown Wealth Group LLC’s holdings in Intuit were worth $222,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after acquiring an additional 353,185 shares in the last quarter. Geode Capital Management LLC raised its stake in Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock worth $3,833,720,000 after acquiring an additional 132,384 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Intuit by 13.3% in the fourth 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 in the last quarter. Norges Bank acquired a new stake in shares of Intuit in the fourth quarter valued at $2,290,419,000. Finally, Northern Trust Corp increased its stake in shares of Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock valued at $2,118,682,000 after buying an additional 498,030 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the sale, the executive vice president now owns 23,101 shares in the company, valued at approximately $16,844,325.16. This represents a 41.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value 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. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,896 shares of company stock valued at $204,351,942. 2.68% of the stock is owned by insiders.

Intuit Trading Up 0.5%

NASDAQ INTU opened at $776.57 on Friday. The stock has a market capitalization of $216.62 billion, a price-to-earnings ratio of 63.03, a PEG ratio of 3.45 and a beta of 1.28. The stock’s 50 day moving average price is $700.54 and its two-hundred day moving average price is $638.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $787.22.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business’s quarterly revenue 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, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal 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 issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is presently 33.77%.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. Mizuho raised their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price for the company in a research note on Wednesday, April 23rd. BMO Capital Markets restated an “outperform” rating and issued a $820.00 target price (up from $714.00) on shares of Intuit in a research note on Friday, May 23rd. Citigroup reiterated a “buy” rating and issued a $789.00 price objective (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $793.05.

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.