Peapack Gladstone Financial Corp Has $11.07 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Peapack Gladstone Financial Corp trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,826 shares of the software maker’s stock after selling 35 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Intuit were worth $11,070,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the second quarter worth $25,000. Cultivar Capital Inc. bought a new stake in Intuit during the 2nd quarter worth about $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the 3rd quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the second quarter valued at about $35,000. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Piper Sandler dropped their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group upped their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Down 2.4 %

INTU stock opened at $656.45 on Friday. The firm has a 50-day moving average price of $639.96 and a 200-day moving average price of $631.62. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. 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 $183.75 billion, a P/E ratio of 63.73, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share 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 analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. As a group, equities research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.63%. Intuit’s payout ratio is presently 40.39%.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value 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. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,542 shares of company stock worth $97,235,054. 2.68% of the stock is currently owned by insiders.

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.