Bank of Hawaii Has $370,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Bank of Hawaii lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 40.5% during the 3rd quarter, Holdings Channel reports. The firm owned 596 shares of the software maker’s stock after selling 406 shares during the period. Bank of Hawaii’s holdings in Intuit were worth $370,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Fisher Asset Management LLC boosted its stake in Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after acquiring an additional 107,482 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Intuit by 11.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 66,368 shares of the software maker’s stock valued at $41,214,000 after purchasing an additional 7,075 shares during the period. Summit Trail Advisors LLC boosted its position in shares of Intuit by 4.0% in the 3rd quarter. Summit Trail Advisors LLC now owns 4,175 shares of the software maker’s stock worth $2,593,000 after purchasing an additional 162 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Intuit by 38.2% in the 3rd quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock worth $186,000 after purchasing an additional 83 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of Intuit by 3.5% during the third quarter. Swedbank AB now owns 118,266 shares of the software maker’s stock worth $73,443,000 after purchasing an additional 4,035 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Finally, Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 775 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This trade represents a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock valued at $35,200,125 in the last three months. 2.90% of the stock is currently owned by corporate insiders.

Intuit Stock Down 0.9 %

NASDAQ:INTU opened at $634.62 on Tuesday. The stock has a 50-day simple moving average of $634.58 and a 200 day simple moving average of $631.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a market cap of $177.77 billion, a PE ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.66%. Intuit’s payout ratio is currently 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.