Intuit Inc. (NASDAQ:INTU) Shares Bought by Intrust Bank NA

Intrust Bank NA grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 5.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,641 shares of the software maker’s stock after buying an additional 91 shares during the period. Intrust Bank NA’s holdings in Intuit were worth $1,031,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Brown Financial Advisors boosted its holdings in Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 15 shares during the last quarter. True North Advisors LLC increased its holdings in Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after purchasing an additional 17 shares during the last quarter. Great Diamond Partners LLC raised its position in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after purchasing an additional 17 shares in the last quarter. RB Capital Management LLC boosted its stake in shares of Intuit by 0.6% during the 3rd quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock valued at $1,968,000 after buying an additional 18 shares during the last quarter. Finally, Pacifica Partners Inc. grew its position in shares of Intuit by 27.7% during the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock worth $52,000 after buying an additional 18 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,896 shares of company stock worth $82,946,716. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INTU. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Scotiabank cut their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a research note on Wednesday, February 26th. Citigroup cut their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $598.92 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $595.90 and its two-hundred day moving average is $622.38. The firm has a market capitalization of $167.44 billion, a P/E ratio of 58.15, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

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.