Kingswood Wealth Advisors LLC Sells 4,601 Shares of Intuit Inc. (NASDAQ:INTU)

Kingswood Wealth Advisors LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 87.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 639 shares of the software maker’s stock after selling 4,601 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Intuit were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the third quarter valued at $27,000. Sugar Maple Asset Management LLC bought a new position in shares of Intuit during the fourth quarter valued at about $29,000. Denver PWM LLC bought a new position in shares of Intuit during the third quarter valued at about $32,000. Dunhill Financial LLC lifted its position in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its position in shares of Intuit by 6,500.0% during the fourth quarter. AlphaMark Advisors LLC now owns 66 shares of the software maker’s stock valued at $41,000 after purchasing an additional 65 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Transactions at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 in the last quarter. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INTU. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. Morgan Stanley lifted their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Barclays lowered their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $604.60 on Friday. The company has a 50 day moving average of $633.22 and a 200 day moving average of $634.26. The stock has a market cap of $169.24 billion, a P/E ratio of 58.70, a P/E/G ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 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 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Intuit 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.