First Western Trust Bank Reduces Stake in Intuit Inc. (NASDAQ:INTU)

Key Points

• First Western Trust Bank has reduced its holdings in Intuit Inc. by 7.4%, selling 652 shares and owning 8,149 shares valued at approximately $5 million as of the latest SEC filing.
• Insider sales have been significant, with the CFO selling over 2,500 shares, resulting in a 77.14% decrease in their ownership.
• Analysts are mostly optimistic about Intuit, with the stock receiving numerous upgrades and a consensus rating of "Moderate Buy" with a price target of around $806.27.

First Western Trust Bank reduced its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,149 shares of the software maker's stock after selling 652 shares during the quarter. First Western Trust Bank's holdings in Intuit were worth $5,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares in the last quarter. Nicholas Hoffman & Company LLC. acquired a new position in shares of Intuit in the first quarter worth $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after purchasing an additional 771,232 shares during the last quarter. Unisphere Establishment lifted its holdings in shares of Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after buying an additional 500,000 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the sale, the executive vice president directly owned 19 shares of the company's stock, valued at $14,704.10. This trade represents a 98.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 882 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock valued at $209,725,054 in the last three months. 2.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. BMO Capital Markets boosted their target price on shares of Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. upped their price target on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $850.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $806.27.

Intuit Stock Down 0.1%

NASDAQ INTU traded down $0.68 during mid-day trading on Wednesday, reaching $712.80. The stock had a trading volume of 872,678 shares, compared to its average volume of 1,768,257. The stock has a market cap of $198.84 billion, a PE ratio of 57.87, a price-to-earnings-growth ratio of 2.72 and a beta of 1.28. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The company has a fifty day moving average price of $767.07 and a 200 day moving average price of $669.18.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $7.56 billion. During the same period last year, the firm posted $9.88 earnings per share. Intuit's revenue was up 15.1% compared to the same quarter last year. On average, research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. Intuit's dividend payout ratio (DPR) is currently 33.77%.

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.