CENTRAL TRUST Co Sells 690 Shares of Intuit Inc. (NASDAQ:INTU)

CENTRAL TRUST Co trimmed its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,191 shares of the software maker's stock after selling 690 shares during the period. CENTRAL TRUST Co's holdings in Intuit were worth $3,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after acquiring an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Intuit in the fourth quarter worth $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Intuit in the fourth quarter worth $237,244,000. Alberta Investment Management Corp purchased a new stake in shares of Intuit in the fourth quarter worth $10,757,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Intuit in the fourth quarter worth $2,958,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares of the company's stock, valued at $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,408 shares of company stock valued at $213,441,865 over the last quarter. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Down 0.4%

INTU stock opened at $764.90 on Wednesday. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45. The business's 50-day moving average is $672.69 and its two-hundred day moving average is $632.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $213.37 billion, a price-to-earnings ratio of 62.09, a P/E/G ratio of 3.42 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the company earned $9.88 earnings per share. Intuit's revenue was up 15.1% on a year-over-year basis. As a group, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Analyst Ratings Changes

A number of research firms have recently commented on INTU. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating on the stock. KeyCorp reaffirmed an "overweight" rating and set a $850.00 price target (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and set a $789.00 price target (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $820.00 price target (up from $714.00) on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average price target of $787.95.

Intuit Profile

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.

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