Intuit Inc. (NASDAQ:INTU) Shares Sold by First Bank & Trust

First Bank & Trust lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 1.2% in the third quarter, HoldingsChannel reports. The firm owned 5,397 shares of the software maker’s stock after selling 65 shares during the quarter. First Bank & Trust’s holdings in Intuit were worth $3,352,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Intech Investment Management LLC grew its position in shares of Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after purchasing an additional 2,641 shares during the last quarter. GAMMA Investing LLC boosted its stake in Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after acquiring an additional 968 shares during the period. Cetera Advisors LLC increased its holdings in shares of Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after acquiring an additional 2,655 shares during the period. Park Avenue Securities LLC raised its stake in Intuit by 13.4% during the 2nd quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock valued at $7,398,000 after acquiring an additional 1,328 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of Intuit by 13.0% in the first quarter. New Mexico Educational Retirement Board now owns 16,478 shares of the software maker’s stock valued at $10,711,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on INTU. Citigroup upped their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada began coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Finally, Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned 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 $735.71.

Intuit Price Performance

Shares of INTU traded up $5.29 during trading hours on Friday, hitting $609.27. 1,000,674 shares of the company were exchanged, compared to its average volume of 1,264,688. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The firm’s fifty day moving average is $626.86 and its 200 day moving average is $626.75. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $170.77 billion, a price-to-earnings ratio of 58.30, a P/E/G ratio of 2.98 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS 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 previous year, the business earned $0.40 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. On average, equities analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio is 39.81%.

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.