Central Pacific Bank Trust Division Sells 149 Shares of Intuit Inc. (NASDAQ:INTU)

Central Pacific Bank Trust Division trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,109 shares of the software maker’s stock after selling 149 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Intuit were worth $2,583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC purchased a new position in Intuit during the second quarter valued at $392,000. Founders Financial Securities LLC increased its holdings in Intuit by 19.9% in the 2nd quarter. Founders Financial Securities LLC now owns 862 shares of the software maker’s stock worth $567,000 after acquiring an additional 143 shares in the last quarter. First National Trust Co raised its stake in Intuit by 3.7% during the 2nd quarter. First National Trust Co now owns 999 shares of the software maker’s stock worth $657,000 after acquiring an additional 36 shares during the period. Larson Financial Group LLC lifted its holdings in Intuit by 79.3% during the second quarter. Larson Financial Group LLC now owns 217 shares of the software maker’s stock valued at $143,000 after purchasing an additional 96 shares in the last quarter. Finally, Mattern Capital Management LLC boosted its position in shares of Intuit by 29.0% in the second quarter. Mattern Capital Management LLC now owns 787 shares of the software maker’s stock worth $517,000 after purchasing an additional 177 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Up 1.1 %

INTU stock traded up $7.00 during mid-day trading on Friday, reaching $629.79. 478,982 shares of the stock traded hands, compared to its average volume of 824,867. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $176.29 billion, a PE ratio of 61.14, a PEG ratio of 3.24 and a beta of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The business has a 50-day moving average price of $648.62 and a two-hundred day moving average price of $637.79.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. Equities research analysts expect that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The company 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s payout ratio is 40.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on INTU shares. Oppenheimer lifted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. increased their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler lowered their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Morgan Stanley increased their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was a 89.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 262,814 shares of company stock worth $170,119,823 in the last three months. Corporate insiders own 2.68% of the company’s stock.

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.