Intuit Inc. (NASDAQ:INTU) Holdings Trimmed by CENTRAL TRUST Co

CENTRAL TRUST Co lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 23.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,394 shares of the software maker’s stock after selling 1,985 shares during the period. CENTRAL TRUST Co’s holdings in Intuit were worth $3,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of INTU. International Assets Investment Management LLC lifted its stake in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Intuit by 940.4% in the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after purchasing an additional 285,328 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after purchasing an additional 283,291 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Intuit during the second quarter valued at approximately $184,982,000. Finally, Ameriprise Financial Inc. increased its stake in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last three months. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on INTU shares. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Stifel Nicolaus boosted their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Barclays lowered their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $603.98 on Friday. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a market cap of $168.84 billion, a P/E ratio of 55.72, a P/E/G ratio of 3.04 and a beta of 1.24. The business’s 50 day moving average is $628.71 and its two-hundred day moving average is $627.16. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company earned $0.40 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 38.38%.

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.