Private Trust Co. NA Sells 25 Shares of Intuit Inc. (NASDAQ:INTU)

Private Trust Co. NA lowered its position in Intuit Inc. (NASDAQ:INTU) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 934 shares of the software maker’s stock after selling 25 shares during the period. Private Trust Co. NA’s holdings in Intuit were worth $580,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Mirabella Financial Services LLP bought a new stake in Intuit during the 3rd quarter valued at approximately $2,385,000. Hancock Whitney Corp lifted its position in Intuit by 326.9% during the third quarter. Hancock Whitney Corp now owns 18,767 shares of the software maker’s stock valued at $11,654,000 after purchasing an additional 14,371 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after acquiring an additional 16 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Intuit by 5.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,999 shares of the software maker’s stock worth $3,104,000 after purchasing an additional 276 shares during the period. Finally, Independent Advisor Alliance boosted its stake in Intuit by 1.4% during the third quarter. Independent Advisor Alliance now owns 8,531 shares of the software maker’s stock worth $5,298,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on INTU. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $737.44.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was 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 directly owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock worth $35,200,125 over the last three months. Company insiders own 2.90% of the company’s stock.

Intuit Stock Up 0.7 %

NASDAQ INTU opened at $638.83 on Wednesday. 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 firm has a market cap of $178.95 billion, a PE ratio of 62.02, a P/E/G ratio of 3.13 and a beta of 1.25. The business’s fifty day simple moving average is $634.46 and its 200-day simple moving average is $631.29. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is currently 40.39%.

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.