Central Bank & Trust Co. Sells 1,613 Shares of Intuit Inc. (NASDAQ:INTU)

Central Bank & Trust Co. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 10.7% during the 4th quarter, HoldingsChannel reports. The firm owned 13,488 shares of the software maker’s stock after selling 1,613 shares during the period. Intuit comprises approximately 1.3% of Central Bank & Trust Co.’s holdings, making the stock its 24th largest holding. Central Bank & Trust Co.’s holdings in Intuit were worth $8,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brown Financial Advisors grew its holdings in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares in the last quarter. Truvestments Capital LLC increased its holdings in Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares during the period. Aviso Wealth Management raised its position in shares of Intuit by 4.9% in the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after buying an additional 17 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of Intuit by 3.3% during the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after acquiring an additional 17 shares during the period. Finally, Chris Bulman Inc boosted its position in shares of Intuit by 1.1% during the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after acquiring an additional 17 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent analyst reports. Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group raised their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 0.5 %

NASDAQ INTU opened at $604.13 on Tuesday. 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. The firm has a market capitalization of $169.11 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The business’s 50-day moving average price is $646.09 and its two-hundred day moving average price is $636.77.

Intuit (NASDAQ:INTU) last released its 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 business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

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

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the sale, the insider now directly owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by insiders.

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.