Intuit Inc. (NASDAQ:INTU) Shares Sold by Hilltop National Bank

Hilltop National Bank cut its holdings in Intuit Inc. (NASDAQ:INTU) by 41.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60 shares of the software maker’s stock after selling 42 shares during the period. Hilltop National Bank’s holdings in Intuit were worth $38,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares in the last quarter. Harvest Portfolios Group Inc. raised its stake in Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after buying an additional 1,853 shares in the last quarter. GAMMA Investing LLC raised its stake in Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after buying an additional 968 shares in the last quarter. Retireful LLC acquired a new stake in Intuit in the third quarter valued at $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Intuit in the third quarter valued at $56,144,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of INTU opened at $623.43 on Friday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The stock’s 50 day moving average is $649.58 and its two-hundred day moving average is $638.15. The firm has a market capitalization of $174.51 billion, a PE ratio of 60.53, a P/E/G ratio of 3.24 and a beta of 1.25. 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 announced its quarterly earnings data 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 return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s payout ratio is 40.39%.

Insider Activity

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the transaction, the chief executive officer now owns 37,869 shares of the company’s stock, valued at $23,701,828.41. This represents a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 291,936 shares of company stock worth $188,324,604. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price objective on shares of Intuit in a report on Friday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average price target of $737.44.

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.