First Citizens Bank & Trust Co. Sells 415 Shares of Intuit Inc. (NASDAQ:INTU)

First Citizens Bank & Trust Co. lowered its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 13.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,585 shares of the software maker's stock after selling 415 shares during the period. First Citizens Bank & Trust Co.'s holdings in Intuit were worth $1,587,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Copia Wealth Management acquired a new stake in shares of Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC lifted its stake in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Intuit during the 4th quarter worth $28,000. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter worth about $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in Intuit in the 4th quarter valued at approximately $35,000. Institutional investors own 83.66% of the company's stock.

Intuit Trading Down 0.3%

Intuit stock traded down $2.28 during trading hours on Tuesday, reaching $762.10. The company had a trading volume of 1,420,869 shares, compared to its average volume of 1,619,743. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The company has a 50-day moving average price of $649.11 and a 200 day moving average price of $626.71. The firm has a market cap of $212.59 billion, a price-to-earnings ratio of 73.99, a P/E/G ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm's revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $9.88 EPS. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is 33.77%.

Analysts Set New Price Targets

Several brokerages have commented on INTU. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research note on Wednesday, April 23rd. KeyCorp restated an "overweight" rating and issued a $850.00 price objective (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $785.33.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 16,061 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the transaction, the chief financial officer now owns 197 shares in the company, valued at $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 225,592 shares of company stock worth $165,325,437. 2.68% of the stock is currently owned by company insiders.

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.