Intuit Inc. (NASDAQ:INTU) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,816 shares of the software maker’s stock after selling 1,465 shares during the period. M&T Bank Corp’s holdings in Intuit were worth $38,637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of INTU. NewSquare Capital LLC acquired a new position in shares of Intuit in the third quarter worth $25,000. DiNuzzo Private Wealth Inc. purchased a new stake in Intuit during the 4th quarter worth about $25,000. Cape Investment Advisory Inc. acquired a new stake in Intuit in the 3rd quarter valued at about $26,000. MCF Advisors LLC boosted its stake in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares during the period. Finally, Aspire Private Capital LLC grew its position in shares of Intuit by 144.4% during the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after buying an additional 39 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on INTU. Mizuho lifted their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Piper Sandler increased their price objective on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Evercore ISI upped their price target on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Oppenheimer raised their price objective on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Barclays upped their target price on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

Intuit Price Performance

Shares of NASDAQ INTU traded up $15.23 during trading on Friday, hitting $629.27. 1,109,512 shares of the company were exchanged, compared to its average volume of 1,209,705. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The company has a market cap of $176.20 billion, a price-to-earnings ratio of 64.21, a PEG ratio of 3.74 and a beta of 1.22. The firm’s fifty day moving average price is $638.17 and its 200 day moving average price is $605.07.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts expect that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

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.