Sanibel Captiva Trust Company Inc. Sells 1,532 Shares of Intuit Inc. (NASDAQ:INTU)

Sanibel Captiva Trust Company Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,152 shares of the software maker's stock after selling 1,532 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Intuit were worth $18,513,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. NewSquare Capital LLC increased its holdings in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares during the last quarter. Ethos Financial Group LLC raised its holdings in shares of Intuit by 3.7% in the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock valued at $319,000 after purchasing an additional 18 shares during the period. Legacy Investment Solutions LLC lifted its stake in Intuit by 18.0% in the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock valued at $68,000 after purchasing an additional 18 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in Intuit by 18.4% during the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares during the period. Finally, Plancorp LLC grew its holdings in Intuit by 2.2% during the fourth quarter. Plancorp LLC now owns 889 shares of the software maker's stock worth $559,000 after purchasing an additional 19 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of NASDAQ INTU traded down $2.28 during midday trading on Tuesday, reaching $762.10. 1,422,369 shares of the company were exchanged, compared to its average volume of 1,619,743. The stock's 50-day moving average price is $649.11 and its 200-day moving average price is $626.71. The stock has a market cap of $212.59 billion, a P/E ratio of 73.99, a PEG ratio of 2.85 and a beta of 1.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results 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 18.25% and a net margin of 17.59%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the company earned $9.88 earnings per share. The business's quarterly revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced 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 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's payout ratio is presently 33.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTU. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Evercore ISI upped their price objective on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. UBS Group set a $750.00 price target on shares of Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Piper Sandler restated an "overweight" rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $785.33.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider now directly owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,592 shares of company stock valued at $165,325,437 over the last ninety days. 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.