Intuit Inc. (NASDAQ:INTU) Stock Holdings Trimmed by Central Bank & Trust Co.

Central Bank & Trust Co. lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 16.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,210 shares of the software maker’s stock after selling 2,278 shares during the period. Intuit makes up 1.1% of Central Bank & Trust Co.’s holdings, making the stock its 28th largest position. Central Bank & Trust Co.’s holdings in Intuit were worth $6,883,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of INTU. Copia Wealth Management acquired a new position in shares of Intuit in the 4th quarter worth $25,000. NewSquare Capital LLC lifted its position 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 buying an additional 18 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the fourth quarter worth about $28,000. Summit Securities Group LLC acquired a new stake in shares of Intuit in the fourth quarter worth about $28,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Intuit during the 4th quarter worth about $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 0.6%

Intuit stock opened at $771.58 on Friday. The business has a 50-day simple moving average of $646.24 and a two-hundred day simple moving average of $626.21. The company has a market cap of $215.23 billion, a P/E ratio of 74.91, a P/E/G ratio of 2.85 and a beta of 1.28. 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 Inc. has a 52-week low of $532.65 and a 52-week high of $773.45.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the prior year, the firm earned $9.88 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. Intuit’s payout ratio is 33.77%.

Analyst Upgrades and Downgrades

Several research firms have commented on INTU. Oppenheimer reaffirmed an “outperform” rating and issued a $742.00 price target (up previously from $642.00) on shares of Intuit in a report on Friday, May 23rd. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research report on Wednesday, April 23rd. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $785.00 price objective (up from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price target on Intuit and gave the company a “buy” rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $785.33.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares of the company’s stock, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,592 shares of company stock valued at $165,325,437. 2.68% of the stock is currently owned by corporate insiders.

About Intuit

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.