Intuit Inc. (NASDAQ:INTU) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 18.8% during the 4th quarter, HoldingsChannel reports. The fund owned 166,713 shares of the software maker’s stock after selling 38,662 shares during the period. Truist Financial Corp’s holdings in Intuit were worth $104,201,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. NewSquare Capital LLC purchased a new position in shares of Intuit during the 3rd quarter worth about $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Intuit during the third quarter worth approximately $26,000. MCF Advisors LLC boosted its holdings in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Steward Financial Group LLC boosted its holdings in Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares during the period. Finally, Aspire Private Capital LLC boosted its holdings in Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after purchasing an additional 39 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on INTU. Evercore ISI lifted their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Barclays lifted their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Stifel Nicolaus raised their target price on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Finally, Piper Sandler raised their target price on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Buying and Selling

In related news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by corporate insiders.

Intuit Price Performance

Intuit stock traded up $10.16 during midday trading on Friday, hitting $636.55. The company’s stock had a trading volume of 1,192,496 shares, compared to its average volume of 1,208,945. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average price is $640.26 and its 200-day moving average price is $602.74. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The company has a market capitalization of $178.23 billion, a PE ratio of 64.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the business earned $1.05 earnings per share. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s dividend payout ratio is currently 36.73%.

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.