Truist Financial Corp Sells 38,662 Shares of Intuit Inc. (NASDAQ:INTU)

Truist Financial Corp reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 18.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,713 shares of the software maker’s stock after selling 38,662 shares during the quarter. Truist Financial Corp owned 0.06% of Intuit worth $104,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Intuit by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after purchasing an additional 117,478 shares in the last quarter. FMR LLC lifted its holdings in Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after acquiring an additional 266,803 shares during the period. Morgan Stanley lifted its holdings in Intuit by 3.7% in the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after acquiring an additional 137,198 shares during the period. Northern Trust Corp lifted its holdings in Intuit by 5.2% in the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after acquiring an additional 160,229 shares during the period. Finally, Invesco Ltd. lifted its holdings in Intuit by 6.6% in the third quarter. Invesco Ltd. now owns 3,091,645 shares of the software maker’s stock valued at $1,579,645,000 after acquiring an additional 190,582 shares during the period. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ INTU traded up $10.16 during midday trading on Friday, reaching $636.55. 1,192,496 shares of the stock traded hands, compared to its average volume of 1,208,945. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $178.23 billion, a PE ratio of 64.95, a P/E/G ratio of 3.81 and a beta of 1.21. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The company’s 50 day moving average is $640.26 and its 200 day moving average is $602.74.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INTU shares. Susquehanna increased their target price on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Piper Sandler upped their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Stifel Nicolaus boosted their price objective on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Wells Fargo & Company increased their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Finally, Barclays increased their target price on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $650.23.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 over the last three months. 2.90% of the stock is owned by insiders.

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.