Intuit Inc. (NASDAQ:INTU) Shares Sold by City Holding Co.

City Holding Co. lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 20.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,573 shares of the software maker’s stock after selling 1,417 shares during the period. City Holding Co.’s holdings in Intuit were worth $3,503,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Grove Bank & Trust grew its position in shares of Intuit by 4.6% during the fourth quarter. Grove Bank & Trust now owns 976 shares of the software maker’s stock worth $613,000 after acquiring an additional 43 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in shares of Intuit during the fourth quarter valued at about $342,000. Liberty One Investment Management LLC boosted its holdings in shares of Intuit by 6.5% in the fourth quarter. Liberty One Investment Management LLC now owns 7,165 shares of the software maker’s stock valued at $4,503,000 after acquiring an additional 436 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its position in shares of Intuit by 1.9% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 2,456 shares of the software maker’s stock valued at $1,544,000 after purchasing an additional 45 shares during the period. Finally, Smith Salley Wealth Management raised its position in Intuit by 7.3% in the fourth quarter. Smith Salley Wealth Management now owns 1,978 shares of the software maker’s stock worth $1,243,000 after acquiring an additional 135 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other news, 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 transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on INTU. Morgan Stanley boosted their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Down 0.5 %

Shares of Intuit stock opened at $604.13 on Monday. The stock has a 50 day moving average price of $646.09 and a two-hundred day moving average price of $636.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a PEG ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during 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 business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. Equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s dividend payout ratio is 40.39%.

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.