Intuit Inc. (NASDAQ:INTU) Shares Sold by Cetera Trust Company N.A

Cetera Trust Company N.A cut its holdings in Intuit Inc. (NASDAQ:INTU) by 78.8% during the third quarter, HoldingsChannel reports. The firm owned 62 shares of the software maker’s stock after selling 231 shares during the period. Cetera Trust Company N.A’s holdings in Intuit were worth $39,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the second quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the second quarter worth about $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit during the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the second quarter worth about $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Down 0.9 %

INTU stock traded down $5.37 on Tuesday, hitting $608.56. 228,446 shares of the company were exchanged, compared to its average volume of 1,318,459. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The business’s fifty day moving average is $630.13 and its two-hundred day moving average is $627.52. The stock has a market capitalization of $170.12 billion, a price-to-earnings ratio of 56.64, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. 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 announced its 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. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, research analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a $1.04 dividend. 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 dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Analysts Set New Price Targets

INTU has been the topic of a number of recent analyst reports. Royal Bank of Canada initiated coverage on shares of Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Susquehanna reissued a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $768.00 price objective on shares of Intuit in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently 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.