CENTRAL TRUST Co Lowers Holdings in Intuit Inc. (NASDAQ:INTU)

CENTRAL TRUST Co lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,881 shares of the software maker’s stock after selling 513 shares during the quarter. CENTRAL TRUST Co’s holdings in Intuit were worth $3,696,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. purchased a new position in shares of Intuit in the 4th quarter valued at about $621,000. Harvest Portfolios Group Inc. lifted its stake in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC boosted its holdings in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after buying an additional 968 shares in the last quarter. Finally, Retireful LLC acquired a new position in Intuit during the third quarter worth about $740,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on INTU shares. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. Piper Sandler reissued an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Down 0.5 %

INTU opened at $601.51 on Monday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The business has a 50-day moving average of $630.95 and a two-hundred day moving average of $633.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $168.37 billion, a price-to-earnings ratio of 58.40, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its 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. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 earnings per share. On average, research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is currently 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Intuit 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.