Citizens National Bank Trust Department Sells 145 Shares of Intuit Inc. (NASDAQ:INTU)

Citizens National Bank Trust Department lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,412 shares of the software maker’s stock after selling 145 shares during the quarter. Citizens National Bank Trust Department’s holdings in Intuit were worth $1,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new stake in Intuit during the 4th quarter valued at $25,000. Northwest Investment Counselors LLC bought a new stake in Intuit during the 3rd quarter valued at $27,000. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Intuit during the 4th quarter valued at $29,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.4 %

INTU stock opened at $582.19 on Thursday. 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 Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market cap of $162.97 billion, a price-to-earnings ratio of 56.52, a PEG ratio of 2.89 and a beta of 1.24. The business’s 50-day moving average is $615.92 and its 200 day moving average is $628.85.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INTU. Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $726.53.

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.