CNB Bank Sells 29 Shares of Intuit Inc. (NASDAQ:INTU)

CNB Bank reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,746 shares of the software maker’s stock after selling 29 shares during the quarter. CNB Bank’s holdings in Intuit were worth $1,097,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Avanza Fonder AB purchased a new stake in shares of Intuit in the fourth quarter valued at about $230,000. Cvfg LLC bought a new stake in Intuit in the 4th quarter worth about $1,219,000. Bouvel Investment Partners LLC increased its stake in Intuit by 0.7% in the 4th quarter. Bouvel Investment Partners LLC now owns 9,746 shares of the software maker’s stock valued at $6,125,000 after buying an additional 63 shares during the last quarter. Cohen Investment Advisors LLC lifted its position in shares of Intuit by 1.4% during the 4th quarter. Cohen Investment Advisors LLC now owns 5,869 shares of the software maker’s stock worth $3,689,000 after buying an additional 79 shares in the last quarter. Finally, JGP Wealth Management LLC boosted its stake in shares of Intuit by 2.1% in the 4th quarter. JGP Wealth Management LLC now owns 23,220 shares of the software maker’s stock worth $14,594,000 after buying an additional 477 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction on 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 in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 over the last ninety days. Company insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $608.98 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $170.46 billion, a PE ratio of 59.22, a PEG ratio of 3.07 and a beta of 1.25. The company’s fifty day moving average is $649.03 and its 200 day moving average is $637.60. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 EPS. Intuit’s revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is 40.39%.

Analysts Set New Price Targets

A number of brokerages recently commented on INTU. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday. Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

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.