Intuit Inc. (NASDAQ:INTU) Shares Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lifted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 3.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,789 shares of the software maker's stock after purchasing an additional 623 shares during the period. Pinnacle Financial Partners Inc's holdings in Intuit were worth $10,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of INTU. Copia Wealth Management bought a new position in shares of Intuit during the 4th quarter worth $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 worth $27,000 after acquiring an additional 18 shares during the period. Summit Securities Group LLC bought a new position in Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in Intuit during the 4th quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Intuit in the 4th quarter valued at about $35,000. Institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and set a $789.00 target price (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler reissued an "overweight" rating and issued a $825.00 price target (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research note on Wednesday, April 23rd. Finally, Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $793.05.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the transaction, the chief accounting officer directly owned 455 shares in the company, valued at $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,896 shares of company stock valued at $204,351,942. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Performance

Shares of INTU traded down $5.91 during trading hours on Wednesday, reaching $773.70. 1,492,709 shares of the company traded hands, compared to its average volume of 1,617,224. The stock has a market capitalization of $215.82 billion, a P/E ratio of 62.80, a P/E/G ratio of 3.50 and a beta of 1.27. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average price of $708.84 and a 200-day moving average price of $640.04. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60.

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 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 business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the business earned $9.88 EPS. The company's quarterly revenue was up 15.1% compared to the same quarter last year. Equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued 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%.

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.