First Citizens Bank & Trust Co. Decreases Position in Intuit Inc. (NASDAQ:INTU)

First Citizens Bank & Trust Co. cut its position in Intuit Inc. (NASDAQ:INTU) by 13.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,585 shares of the software maker’s stock after selling 415 shares during the period. First Citizens Bank & Trust Co.’s holdings in Intuit were worth $1,587,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Copia Wealth Management purchased a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTU has been the subject of several research reports. Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Oppenheimer restated an “outperform” rating and set a $742.00 target price (up from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Evercore ISI boosted their target price on shares of Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a research report on Friday, May 23rd. The Goldman Sachs Group boosted their target price on shares of Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a research report on Monday, May 19th. Finally, Barclays restated an “overweight” rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Price Performance

INTU stock opened at $764.38 on Tuesday. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The company’s fifty day moving average price is $649.11 and its 200-day moving average price is $626.71. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $213.22 billion, a PE ratio of 74.21, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm earned $9.88 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Insider Transactions at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53% 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, EVP Alex G. Balazs sold 1,459 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Over the last quarter, 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.

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.