1ST Source Bank Sells 54 Shares of Intuit Inc. (NASDAQ:INTU)

1ST Source Bank reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,083 shares of the software maker’s stock after selling 54 shares during the quarter. 1ST Source Bank’s holdings in Intuit were worth $681,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTU. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Intuit in the third quarter worth about $396,000. Thrivent Financial for Lutherans grew its stake in shares of Intuit by 2.7% in the third quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker’s stock worth $9,149,000 after purchasing an additional 388 shares during the last quarter. Aljian Capital Management LLC grew its stake in shares of Intuit by 1.3% in the third quarter. Aljian Capital Management LLC now owns 6,048 shares of the software maker’s stock worth $3,756,000 after purchasing an additional 75 shares during the last quarter. Quest Partners LLC grew its stake in shares of Intuit by 203.7% in the third quarter. Quest Partners LLC now owns 1,652 shares of the software maker’s stock worth $1,026,000 after purchasing an additional 1,108 shares during the last quarter. Finally, LMR Partners LLP bought a new stake in shares of Intuit in the third quarter worth about $8,317,000. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on INTU shares. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Piper Sandler reissued an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Scotiabank cut their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Price Performance

INTU stock opened at $602.11 on Tuesday. The firm has a 50 day moving average price of $597.76 and a 200-day moving average price of $623.51. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The firm has a market capitalization of $168.33 billion, a price-to-earnings ratio of 58.46, a PEG ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s payout ratio is currently 38.81%.

Insider Buying and Selling

In related news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,301 shares of company stock worth $121,470,200 in the last three months. 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.