Bourne Lent Asset Management Inc. Sells 239 Shares of Intuit Inc. (NASDAQ:INTU)

Bourne Lent Asset Management Inc. decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 29.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 566 shares of the software maker’s stock after selling 239 shares during the quarter. Bourne Lent Asset Management Inc.’s holdings in Intuit were worth $356,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in Intuit during the 3rd quarter valued at approximately $27,000. Sugar Maple Asset Management LLC bought a new stake in Intuit during the 4th quarter valued at approximately $29,000. Denver PWM LLC bought a new stake in Intuit during the 3rd quarter valued at approximately $32,000. Dunhill Financial LLC boosted its stake in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in Intuit in the 2nd quarter valued at approximately $49,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Up 0.9 %

NASDAQ INTU opened at $609.41 on Wednesday. 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 Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a 50 day moving average of $644.23 and a 200-day moving average of $636.37. The company has a market cap of $170.59 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 2.98 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio is currently 40.39%.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last three months. Corporate insiders own 2.68% of the company’s stock.

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.