City Holding Co. Sells 941 Shares of Intuit Inc. (NASDAQ:INTU)

City Holding Co. lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 11.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,990 shares of the software maker’s stock after selling 941 shares during the period. City Holding Co.’s holdings in Intuit were worth $4,341,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter valued at $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the second quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Intuit in the second quarter worth about $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Intuit during the second quarter worth about $39,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 1.8 %

Shares of INTU stock opened at $613.37 on Wednesday. The company has a market cap of $171.47 billion, a PE ratio of 56.58, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The stock’s 50 day simple moving average is $632.16 and its two-hundred day simple moving average is $629.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. Research analysts predict that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is currently 38.38%.

Insider Activity at Intuit

In other news, 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 sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,297 shares of company stock worth $32,750,926. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on INTU. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Erste Group Bank reissued a “hold” rating on shares of Intuit in a report on Friday, June 14th. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Barclays dropped their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Four equities 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Company 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.