Ranch Capital Advisors Inc. Sells 48 Shares of Intuit Inc. (NASDAQ:INTU)

Ranch Capital Advisors Inc. lowered its position in Intuit Inc. (NASDAQ:INTU) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 370 shares of the software maker’s stock after selling 48 shares during the period. Ranch Capital Advisors Inc.’s holdings in Intuit were worth $227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brown Advisory Inc. lifted its holdings in shares of Intuit by 7.9% in the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker’s stock valued at $2,114,950,000 after purchasing an additional 252,265 shares in the last quarter. Northern Trust Corp lifted its holdings 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 purchasing an additional 498,030 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 purchasing an additional 771,232 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Intuit by 69,701.9% in 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. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Intuit by 1.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,804,476 shares of the software maker’s stock valued at $1,134,114,000 after purchasing an additional 33,265 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on INTU shares. KeyCorp reaffirmed an “overweight” rating and set a $850.00 price target (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price target on Intuit and gave the company an “overweight” rating in a research report on Friday, June 13th. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $850.00 price target (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $825.00 price target (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $806.27.

Insider Activity at Intuit

In related news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the sale, the director owned 15,474 shares of the company’s stock, valued at approximately $11,890,685.82. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the sale, the executive vice president directly owned 19 shares of the company’s stock, valued at $14,704.10. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock valued at $209,725,054 in the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ INTU opened at $784.87 on Tuesday. The stock has a market cap of $218.94 billion, a PE ratio of 63.71, a price-to-earnings-growth ratio of 2.99 and a beta of 1.28. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a fifty day moving average of $768.40 and a 200-day moving average of $663.67.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results 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 analysts’ expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $9.88 earnings per share. Equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.5%. Intuit’s dividend payout ratio (DPR) is currently 33.77%.

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.