First National Bank of Hutchinson Sells 124 Shares of Intuit Inc. (NASDAQ:INTU)

First National Bank of Hutchinson decreased its stake in Intuit Inc. (NASDAQ:INTU) by 12.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 908 shares of the software maker’s stock after selling 124 shares during the quarter. First National Bank of Hutchinson’s holdings in Intuit were worth $564,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in INTU. AdvisorNet Financial Inc increased its holdings in shares of Intuit by 10.8% in the 1st quarter. AdvisorNet Financial Inc now owns 327 shares of the software maker’s stock worth $213,000 after buying an additional 32 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of Intuit by 4.7% during the 1st quarter. Brookstone Capital Management now owns 2,141 shares of the software maker’s stock valued at $1,392,000 after purchasing an additional 97 shares during the last quarter. Aspiriant LLC grew its holdings in shares of Intuit by 11.6% during the 1st quarter. Aspiriant LLC now owns 404 shares of the software maker’s stock valued at $263,000 after purchasing an additional 42 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Intuit during the 1st quarter valued at $249,000. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of Intuit by 23.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 793 shares of the software maker’s stock valued at $515,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several recent research reports. Barclays reduced their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Jefferies Financial Group increased their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Stifel Nicolaus increased their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets increased their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Trading Down 1.2 %

NASDAQ:INTU opened at $602.01 on Thursday. The company has a 50-day moving average price of $628.71 and a 200-day moving average price of $627.16. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $168.29 billion, a price-to-earnings ratio of 55.54, a P/E/G ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the company posted $0.40 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts predict 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. Stockholders of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insider Activity at Intuit

In related news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last three months. Company insiders own 2.90% of the company’s stock.

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.