Intuit Inc. (NASDAQ:INTU) Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. reduced its holdings in Intuit Inc. (NASDAQ:INTUFree Report) by 8.6% during the 1st quarter, Holdings Channel reports. The fund owned 16,745 shares of the software maker’s stock after selling 1,584 shares during the quarter. Intuit comprises 1.6% of Central Bank & Trust Co.’s portfolio, making the stock its 18th largest holding. Central Bank & Trust Co.’s holdings in Intuit were worth $10,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Sanders Morris Harris LLC increased its position in Intuit by 3.4% in the 1st quarter. Sanders Morris Harris LLC now owns 4,576 shares of the software maker’s stock valued at $2,974,000 after acquiring an additional 150 shares during the period. MJP Associates Inc. ADV increased its position in Intuit by 35.3% in the 1st quarter. MJP Associates Inc. ADV now owns 1,547 shares of the software maker’s stock valued at $1,005,000 after acquiring an additional 404 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Intuit by 2.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 31,997 shares of the software maker’s stock valued at $20,798,000 after purchasing an additional 891 shares during the period. Guinness Asset Management LTD increased its position in shares of Intuit by 9.2% during the 1st quarter. Guinness Asset Management LTD now owns 60,064 shares of the software maker’s stock valued at $39,041,000 after purchasing an additional 5,064 shares during the period. Finally, RFG Advisory LLC increased its position in shares of Intuit by 51.4% during the 1st quarter. RFG Advisory LLC now owns 2,965 shares of the software maker’s stock valued at $1,927,000 after purchasing an additional 1,006 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Up 2.6 %

INTU traded up $16.07 during trading on Friday, reaching $632.15. 3,682,587 shares of the stock traded hands, compared to its average volume of 1,778,125. The stock has a market cap of $176.72 billion, a price-to-earnings ratio of 58.32, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. Intuit Inc. has a fifty-two week low of $442.74 and a fifty-two week high of $676.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The stock’s 50-day simple moving average is $615.61 and its two-hundred day simple moving average is $626.00.

Intuit (NASDAQ:INTUGet Free Report) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. During the same quarter last year, the firm earned $7.80 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts expect that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio (DPR) is currently 33.21%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on INTU shares. Piper Sandler lifted their price target on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. UBS Group lifted their price target on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Evercore ISI lifted their price target on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and issued a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. Finally, Stifel Nicolaus decreased their target price on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $679.41.

Read Our Latest Stock Report on Intuit

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares in the company, valued at $525,380.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the transaction, the chief financial officer now owns 2,332 shares in the company, valued at $1,409,880.56. The disclosure for this sale can be found here. Insiders have sold a total of 193,937 shares of company stock worth $113,123,232 over the last three months. Corporate insiders own 2.90% of the company’s stock.

About Intuit

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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