OLD National Bancorp IN Sells 562 Shares of Intuit Inc. (NASDAQ:INTU)

OLD National Bancorp IN trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,765 shares of the software maker's stock after selling 562 shares during the period. OLD National Bancorp IN's holdings in Intuit were worth $2,312,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after purchasing an additional 1,350 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Intuit during the fourth quarter valued at about $104,278,000. Revolve Wealth Partners LLC boosted its holdings in Intuit by 145.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after acquiring an additional 482 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Intuit in the fourth quarter worth about $211,000. Finally, Cidel Asset Management Inc. boosted its holdings in Intuit by 9.6% in the fourth quarter. Cidel Asset Management Inc. now owns 390 shares of the software maker's stock worth $245,000 after acquiring an additional 34 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,408 shares of company stock worth $213,441,865 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Intuit Trading Down 0.3%

NASDAQ INTU traded down $2.28 on Tuesday, reaching $762.10. 1,422,369 shares of the company were exchanged, compared to its average volume of 1,619,953. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45. The stock has a market capitalization of $212.59 billion, a P/E ratio of 73.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The business's fifty day moving average price is $649.11 and its 200 day moving average price is $626.71.

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

Intuit Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research report on Wednesday, April 23rd. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley reaffirmed an "overweight" rating and issued a $785.00 price target (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating 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 assigned a strong buy rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and a consensus 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.