M&T Bank Corp Has $31.78 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

M&T Bank Corp trimmed its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,761 shares of the software maker's stock after selling 2,191 shares during the period. M&T Bank Corp's holdings in Intuit were worth $31,781,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc raised its stake in Intuit by 3.6% in the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock valued at $10,922,000 after buying an additional 623 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in Intuit in the fourth quarter valued at $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Intuit in the fourth quarter valued at $237,244,000. Baer Investment Advisory LLC acquired a new stake in Intuit in the fourth quarter valued at $3,261,000. Finally, Trinity Street Asset Management LLP acquired a new stake in Intuit in the first quarter valued at $12,061,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INTU has been the topic of a number of research analyst reports. BMO Capital Markets set a $870.00 target price on Intuit and gave the stock an "outperform" rating in a research report on Thursday. Piper Sandler reissued an "overweight" rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. Oppenheimer reissued an "outperform" rating and issued a $742.00 price objective (up from $642.00) on shares of Intuit in a report on Friday, May 23rd. Finally, The Goldman Sachs Group increased their price objective on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $800.55.

Intuit Stock Performance

INTU traded down $21.69 on Thursday, hitting $747.90. 1,782,049 shares of the stock traded hands, compared to its average volume of 1,622,015. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average price of $728.22 and a two-hundred day moving average price of $645.23. The firm has a market capitalization of $208.63 billion, a PE ratio of 60.71, a P/E/G ratio of 3.42 and a beta of 1.27. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data 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 21.46% and a net margin of 19.07%. The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $9.88 earnings per share. On average, research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is 33.77%.

Insider Activity

In other Intuit news, 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 owned 22,796 shares in the company, valued at approximately $17,148,291. The trade was a 52.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 16,700 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the sale, the executive vice president owned 23,101 shares of the company's stock, valued at $16,844,325.16. The trade was a 41.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is owned by company insiders.

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.