CNB Bank Sells 29 Shares of Intuit Inc. (NASDAQ:INTU)

CNB Bank reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,746 shares of the software maker’s stock after selling 29 shares during the quarter. CNB Bank’s holdings in Intuit were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. International Assets Investment Management LLC raised its holdings in shares of Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the last quarter. Holocene Advisors LP lifted its holdings in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the period. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, State Street Corp increased its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on INTU. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” 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 research note on Friday, November 22nd. Finally, Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Up 0.3 %

Shares of NASDAQ:INTU opened at $608.98 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 company has a market capitalization of $170.46 billion, a PE ratio of 59.22, a P/E/G ratio of 3.07 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The business’s fifty day simple moving average is $649.03 and its 200-day simple moving average is $637.60.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 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 business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, January 10th. Intuit’s payout ratio is presently 40.39%.

Insider Activity

In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

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.