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

Hilltop National Bank cut its holdings in Intuit Inc. (NASDAQ:INTU) by 41.2% in the 4th quarter, HoldingsChannel reports. The fund 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp raised its holdings in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after buying an additional 80,463 shares during the period. Fisher Asset Management LLC grew its stake in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares during the period. Legal & General Group Plc grew its stake in shares of Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after buying an additional 23,995 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after buying an additional 87,517 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

INTU opened at $623.43 on Friday. The firm has a market cap of $174.51 billion, a price-to-earnings ratio of 60.53, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company’s 50-day moving average price is $649.58 and its 200 day moving average price is $638.15. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its quarterly earnings data 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 firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. As a group, sell-side analysts expect that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INTU. Jefferies Financial Group boosted their price objective 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. Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday. Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Finally, Barclays cut their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 291,936 shares of company stock worth $188,324,604. Insiders own 2.68% of the company’s stock.

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.