First Hawaiian Bank Sells 1,861 Shares of Intuit Inc. (NASDAQ:INTU)

First Hawaiian Bank reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 24.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,784 shares of the software maker's stock after selling 1,861 shares during the period. First Hawaiian Bank's holdings in Intuit were worth $3,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of INTU. R Squared Ltd bought a new stake in Intuit during the 4th quarter worth approximately $25,000. Copia Wealth Management bought a new stake in Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC grew its position in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC bought a new stake in Intuit during the 4th quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter worth approximately $28,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Down 0.7%

Shares of INTU stock traded down $5.18 during trading hours on Friday, reaching $752.04. The company had a trading volume of 2,887,091 shares, compared to its average volume of 1,625,454. The company has a 50 day moving average of $630.69 and a 200 day moving average of $623.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $210.24 billion, a price-to-earnings ratio of 73.01, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $761.02.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly 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. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.88 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

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

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction on 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 owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Laura A. Fennell sold 25,648 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the sale, the executive vice president now owns 22,796 shares of the company's stock, valued at approximately $17,148,291. This represents a 52.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,804 shares of company stock worth $138,081,963 in the last quarter. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on INTU shares. Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Evercore ISI increased their price target on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Finally, Oppenheimer restated an "outperform" rating and set a $742.00 price target (up from $642.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $785.33.

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.