Citizens Financial Group Inc. RI Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Citizens Financial Group Inc. RI trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,934 shares of the software maker’s stock after selling 74 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Intuit were worth $9,960,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in INTU. Kovack Advisors Inc. purchased a new stake in Intuit in the 4th quarter worth $299,000. K.J. Harrison & Partners Inc purchased a new stake in Intuit in the 4th quarter worth $313,000. Overbrook Management Corp increased its holdings in Intuit by 37.3% in the 4th quarter. Overbrook Management Corp now owns 36,300 shares of the software maker’s stock worth $22,689,000 after acquiring an additional 9,857 shares in the last quarter. Motley Fool Asset Management LLC increased its holdings in Intuit by 7.1% in the 4th quarter. Motley Fool Asset Management LLC now owns 7,708 shares of the software maker’s stock worth $4,818,000 after acquiring an additional 510 shares in the last quarter. Finally, New Jersey Better Educational Savings Trust purchased a new stake in Intuit in the 4th quarter worth $238,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Up 1.6 %

NASDAQ INTU opened at $636.55 on Friday. The firm’s 50-day moving average is $640.26 and its two-hundred day moving average is $603.18. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. 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 P/E ratio of 64.95, a PEG ratio of 3.88 and a beta of 1.21.

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. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

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

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 over the last 90 days. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on INTU. Susquehanna boosted their price target on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Evercore ISI upped their target price on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Piper Sandler upped their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Mizuho upped their target price on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company upped 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. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $650.23.

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.