First Citizens Bank & Trust Co. Has $1.89 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

First Citizens Bank & Trust Co. reduced its position in Intuit Inc. (NASDAQ:INTU) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,000 shares of the software maker’s stock after selling 75 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Intuit were worth $1,885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Financial Advisors increased its stake in shares of Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares in the last quarter. Truvestments Capital LLC grew its position in shares of Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after buying an additional 16 shares during the period. Aviso Wealth Management grew its position in shares of Intuit by 4.9% during the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock worth $238,000 after buying an additional 17 shares during the period. CVA Family Office LLC grew its position in shares of Intuit by 3.3% during the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after buying an additional 17 shares during the period. Finally, Chris Bulman Inc lifted its holdings in shares of Intuit by 1.1% during the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after purchasing an additional 17 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In related news, CEO Sasan K. Goodarzi sold 26,562 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the completion of the sale, the chief executive officer now directly owns 37,869 shares in the company, valued at $23,701,828.41. This trade represents a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 in the last three months. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

NASDAQ:INTU opened at $597.95 on Monday. The stock has a market cap of $167.38 billion, a P/E ratio of 58.05, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. The firm’s fifty day simple moving average is $636.69 and its 200 day simple moving average is $634.99. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. 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 (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. Intuit’s dividend payout ratio is currently 40.39%.

Analyst Ratings Changes

Several research firms have commented on INTU. Piper Sandler restated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus dropped their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $726.53.

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.