Argent Trust Co Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Argent Trust Co lessened its stake in Intuit Inc. (NASDAQ:INTU) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,051 shares of the software maker’s stock after selling 31 shares during the quarter. Argent Trust Co’s holdings in Intuit were worth $1,918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. R Squared Ltd acquired a new stake in Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new position in Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the fourth quarter valued at approximately $28,000. Finally, Summit Securities Group LLC purchased a new stake in Intuit during the fourth quarter worth approximately $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on INTU shares. Citigroup decreased their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Scotiabank dropped their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. BMO Capital Markets decreased their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Jefferies Financial Group decreased their price objective on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $718.00.

Intuit Stock Performance

Shares of INTU stock opened at $577.47 on Friday. The business has a 50 day simple moving average of $591.80 and a 200 day simple moving average of $617.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $161.44 billion, a price-to-earnings ratio of 56.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 over the last 90 days. 2.68% of the stock is currently owned by company 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.