Country Club Bank Sells 65 Shares of Intuit Inc. (NASDAQ:INTU)

Country Club Bank lowered its stake in Intuit Inc. (NASDAQ:INTU) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 580 shares of the software maker’s stock after selling 65 shares during the period. Country Club Bank’s holdings in Intuit were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its holdings in Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Intuit by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after purchasing an additional 87,517 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Intuit by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after purchasing an additional 26,914 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on INTU. Morgan Stanley increased their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Jefferies Financial Group upped their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by company insiders.

Intuit Trading Down 0.6 %

Shares of NASDAQ:INTU opened at $588.26 on Thursday. The stock has a 50 day moving average of $629.33 and a 200 day moving average of $632.68. The company has a market cap of $164.66 billion, a PE ratio of 57.11, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

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.