First Western Trust Bank Purchases 86 Shares of Intuit Inc. (NASDAQ:INTU)

First Western Trust Bank boosted its position in Intuit Inc. (NASDAQ:INTU) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,587 shares of the software maker’s stock after acquiring an additional 86 shares during the period. First Western Trust Bank’s holdings in Intuit were worth $6,225,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. lifted its stake in Intuit by 0.5% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 73,174 shares of the software maker’s stock valued at $32,623,000 after buying an additional 375 shares during the period. KCM Investment Advisors LLC raised its position in shares of Intuit by 22.9% during the first quarter. KCM Investment Advisors LLC now owns 714 shares of the software maker’s stock worth $318,000 after purchasing an additional 133 shares during the period. Ethic Inc. raised its position in shares of Intuit by 31.3% during the first quarter. Ethic Inc. now owns 19,581 shares of the software maker’s stock worth $8,730,000 after purchasing an additional 4,663 shares during the period. abrdn plc raised its position in shares of Intuit by 5.8% during the second quarter. abrdn plc now owns 229,932 shares of the software maker’s stock worth $105,353,000 after purchasing an additional 12,607 shares during the period. Finally, HB Wealth Management LLC raised its position in shares of Intuit by 5.7% during the second quarter. HB Wealth Management LLC now owns 3,311 shares of the software maker’s stock worth $1,517,000 after purchasing an additional 179 shares during the period. Institutional investors and hedge funds own 82.63% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Argus raised their price target on Intuit from $580.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, September 6th. Bank of America raised their price target on Intuit from $530.00 to $580.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Citigroup lifted their target price on Intuit from $495.00 to $565.00 and gave the company a “buy” rating in a research report on Monday, August 28th. Wolfe Research lifted their target price on Intuit from $600.00 to $660.00 and gave the company an “outperform” rating in a research report on Friday, September 29th. Finally, Jefferies Financial Group lifted their target price on Intuit from $525.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $567.41.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 550 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $549.42, for a total transaction of $302,181.00. Following the completion of the transaction, the chief accounting officer now owns 2,054 shares of the company’s stock, valued at approximately $1,128,508.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Sandeep Aujla sold 10,732 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $531.01, for a total transaction of $5,698,799.32. Following the completion of the transaction, the chief financial officer now owns 235 shares of the company’s stock, valued at approximately $124,787.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren D. Hotz sold 550 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $549.42, for a total value of $302,181.00. Following the transaction, the chief accounting officer now directly owns 2,054 shares of the company’s stock, valued at approximately $1,128,508.68. The disclosure for this sale can be found here. Insiders sold 41,073 shares of company stock valued at $22,091,651 in the last three months. Corporate insiders own 3.18% of the company’s stock.

Intuit Stock Performance

INTU traded up $2.29 during trading on Monday, hitting $562.45. The stock had a trading volume of 350,473 shares, compared to its average volume of 1,572,782. The company has a 50 day moving average price of $521.01 and a 200-day moving average price of $489.03. The firm has a market cap of $157.65 billion, a price-to-earnings ratio of 66.37, a P/E/G ratio of 3.37 and a beta of 1.20. Intuit Inc. has a one year low of $370.62 and a one year high of $567.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 1.47.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 24th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.22. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS. As a group, research analysts predict that Intuit Inc. will post 11.25 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Monday, October 9th were issued a $0.90 dividend. The ex-dividend date was Thursday, October 5th. This is a boost from Intuit’s previous quarterly dividend of $0.78. This represents a $3.60 annualized dividend and a yield of 0.64%. Intuit’s payout ratio is currently 42.65%.

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.