Smithfield Trust Co Sells 52 Shares of Intuit Inc. (NASDAQ:INTU)

Smithfield Trust Co reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,510 shares of the software maker’s stock after selling 52 shares during the period. Smithfield Trust Co’s holdings in Intuit were worth $949,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts recently issued reports on INTU shares. Piper Sandler increased their price objective on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday. Susquehanna raised their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Finally, Oppenheimer boosted their price objective 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. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $650.23.

Insider Activity

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

Intuit Stock Performance

Shares of NASDAQ INTU traded up $5.45 during midday trading on Friday, reaching $632.31. The company had a trading volume of 917,381 shares, compared to its average volume of 1,173,500. The stock has a market cap of $177.05 billion, a P/E ratio of 64.52, a P/E/G ratio of 3.86 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The business’s 50-day simple moving average is $635.15 and its 200 day simple moving average is $608.74.

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

Intuit Dividend Announcement

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