293 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by Cetera Trust Company N.A

Cetera Trust Company N.A acquired a new position in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 293 shares of the software maker’s stock, valued at approximately $183,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Intuit by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after buying an additional 117,478 shares during the last quarter. State Street Corp raised its stake in Intuit by 1.9% during the 1st quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock worth $4,948,558,000 after acquiring an additional 210,246 shares during the period. FMR LLC raised its stake in Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after acquiring an additional 266,803 shares during the period. Morgan Stanley raised its stake in Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after acquiring an additional 137,198 shares during the period. Finally, Northern Trust Corp raised its stake in Intuit by 5.2% during the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock worth $1,641,533,000 after acquiring an additional 160,229 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Intuit stock opened at $612.00 on Monday. The company has a market cap of $171.36 billion, a price-to-earnings ratio of 61.75, a PEG ratio of 3.68 and a beta of 1.21. The firm’s fifty day moving average is $642.93 and its 200 day moving average is $600.28. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating 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 business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is 36.73%.

Analysts Set New Price Targets

INTU has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Susquehanna raised their target price on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Oppenheimer raised their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Barclays boosted their target price on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Piper Sandler boosted their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 over the last quarter. 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.