FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires New Shares in Intuit Inc. (NASDAQ:INTU)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 331 shares of the software maker’s stock, valued at approximately $208,000.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its position in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the last quarter. Harvest Portfolios Group Inc. increased its position in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares during the period. Retireful LLC purchased a new position in shares of Intuit in the third quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intuit during the third quarter valued at approximately $56,144,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 over the last three months. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday. Barclays lowered their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Down 0.5 %

Shares of INTU opened at $604.13 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $647.69 and a two-hundred day simple moving average of $637.39. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a market capitalization of $169.11 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 EPS. As a group, equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

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.