First National Bank of Hutchinson Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

First National Bank of Hutchinson grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 938 shares of the software maker’s stock after purchasing an additional 30 shares during the period. First National Bank of Hutchinson’s holdings in Intuit were worth $590,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in INTU. R Squared Ltd purchased a new stake in Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the fourth quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Intuit in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Oppenheimer increased their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Insider Buying and Selling at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,646 shares of company stock valued at $72,494,045 in the last ninety days. Insiders own 2.68% of the company’s stock.

Intuit Stock Up 0.7 %

INTU stock opened at $603.11 on Thursday. The company has a market cap of $168.61 billion, a price-to-earnings ratio of 58.55, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a fifty day moving average price of $596.98 and a 200 day moving average price of $623.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

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.