AMG National Trust Bank Buys 58 Shares of Intuit Inc. (NASDAQ:INTU)

AMG National Trust Bank raised its stake in Intuit Inc. (NASDAQ:INTU) by 4.1% in the fourth quarter, Holdings Channel reports. The firm owned 1,466 shares of the software maker’s stock after acquiring an additional 58 shares during the quarter. AMG National Trust Bank’s holdings in Intuit were worth $921,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of INTU. R Squared Ltd bought a new position in Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit during the 4th quarter worth approximately $29,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,811 shares of company stock valued at $142,391,012. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on INTU. Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. BMO Capital Markets decreased their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Piper Sandler reissued an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Up 0.5 %

Shares of INTU stock opened at $609.61 on Friday. The stock has a market cap of $170.42 billion, a price-to-earnings ratio of 59.19, a PEG ratio of 2.85 and a beta of 1.27. The stock has a 50-day moving average of $602.28 and a 200-day moving average of $625.44. 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 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s payout ratio is 38.81%.

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.