First Bank & Trust Sells 115 Shares of Intuit Inc. (NASDAQ:INTU)

First Bank & Trust cut its holdings in Intuit Inc. (NASDAQ:INTU) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,557 shares of the software maker’s stock after selling 115 shares during the period. Intuit accounts for 0.7% of First Bank & Trust’s portfolio, making the stock its 28th largest holding. First Bank & Trust’s holdings in Intuit were worth $3,612,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. DiNuzzo Private Wealth Inc. bought a new stake in Intuit during the 4th quarter worth approximately $25,000. MCF Advisors LLC raised its position in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit during the 4th quarter valued at $38,000. Sachetta LLC bought a new position in Intuit in the 4th quarter worth $39,000. Finally, Webster Bank N. A. bought a new position in Intuit in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 0.9 %

INTU stock traded up $5.77 during trading on Friday, hitting $657.21. 1,753,982 shares of the company’s stock traded hands, compared to its average volume of 1,628,761. The firm has a market capitalization of $183.72 billion, a P/E ratio of 60.63, a PEG ratio of 3.73 and a beta of 1.21. Intuit Inc. has a 1 year low of $444.19 and a 1 year high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $618.61 and a two-hundred day simple moving average of $628.16.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $7.80 earnings per share. Sell-side analysts anticipate that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on INTU shares. Wells Fargo & Company lifted their price objective on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. UBS Group boosted their price target on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. Citigroup raised their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley boosted their target price on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $770.00 price target on shares of Intuit in a research note on Thursday, June 13th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $683.91.

Insiders Place Their Bets

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the sale, the executive vice president now owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Sandeep Aujla sold 1,415 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the sale, the chief financial officer now owns 2,332 shares in the company, valued at $1,409,880.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at $525,380.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,937 shares of company stock valued at $113,123,232. 2.90% of the stock is currently owned by corporate insiders.

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.