CNB Bank Sells 46 Shares of Intuit Inc. (NASDAQ:INTU)

CNB Bank lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.5% during the third quarter, Holdings Channel reports. The firm owned 1,775 shares of the software maker’s stock after selling 46 shares during the period. CNB Bank’s holdings in Intuit were worth $1,102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INTU. Virtu Financial LLC bought a new stake in shares of Intuit during the 4th quarter worth about $227,000. RFG Advisory LLC lifted its holdings in Intuit by 51.4% in the 1st quarter. RFG Advisory LLC now owns 2,965 shares of the software maker’s stock worth $1,927,000 after purchasing an additional 1,006 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in Intuit by 100.4% during the first quarter. Douglas Lane & Associates LLC now owns 1,509 shares of the software maker’s stock worth $981,000 after purchasing an additional 756 shares during the period. Salem Investment Counselors Inc. grew its holdings in Intuit by 6.6% during the first quarter. Salem Investment Counselors Inc. now owns 581 shares of the software maker’s stock valued at $378,000 after purchasing an additional 36 shares during the last quarter. Finally, Opal Wealth Advisors LLC raised its position in shares of Intuit by 10.1% in the first quarter. Opal Wealth Advisors LLC now owns 372 shares of the software maker’s stock valued at $242,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 0.7 %

INTU opened at $613.29 on Friday. The company has a market capitalization of $171.44 billion, a P/E ratio of 56.58, a P/E/G ratio of 3.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s fifty day moving average price is $630.40 and its two-hundred day moving average price is $627.54. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 38.38%.

Analyst Ratings Changes

Several research firms recently issued reports on INTU. Citigroup upped their price objective on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Barclays decreased their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the 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 completion of the transaction, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 in the last 90 days. 2.90% of the stock is owned by corporate 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.