Intuit Inc. (NASDAQ:INTU) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its stake in Intuit Inc. (NASDAQ:INTU) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the software maker’s stock after selling 75 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Intuit were worth $1,885,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp increased its position in shares of Intuit by 1.8% during the third 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. Geode Capital Management LLC lifted its stake in Intuit by 1.4% during 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 acquiring an additional 80,463 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Intuit by 2.9% during 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 acquiring an additional 107,482 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 worth $1,428,790,000 after purchasing an additional 87,517 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 worth $1,048,524,000 after purchasing an additional 26,914 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU opened at $597.95 on Monday. The firm has a fifty day simple moving average of $636.69 and a 200 day simple moving average of $634.99. 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 stock has a market capitalization of $167.38 billion, a price-to-earnings ratio of 58.05, a PEG ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly 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 for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the firm earned $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal 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. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.70%. Intuit’s dividend payout ratio is presently 40.39%.

Analyst Ratings Changes

A number of research analysts have recently commented on INTU shares. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. Barclays dropped their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. JPMorgan Chase & Co. raised their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Morgan Stanley lifted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’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 completion of the sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the sale, the chief executive officer now owns 37,869 shares of the company’s stock, valued at approximately $23,701,828.41. The trade was a 41.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

About Intuit

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.