Stock Yards Bank & Trust Co. Sells 276 Shares of Intuit Inc. (NASDAQ:INTU)

Stock Yards Bank & Trust Co. trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,430 shares of the software maker’s stock after selling 276 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Intuit were worth $2,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTU. Parnassus Investments LLC increased its position in shares of Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after buying an additional 609,512 shares during the period. Wellington Management Group LLP increased its position in shares of Intuit by 61.5% during the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after buying an additional 514,259 shares during the period. International Assets Investment Management LLC increased its position in shares of Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after buying an additional 472,172 shares during the period. FMR LLC increased its position in shares of Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares during the period. Finally, AustralianSuper Pty Ltd increased its position in shares of Intuit by 56.2% during the third quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock valued at $315,669,000 after buying an additional 222,317 shares during the period. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock worth $3,117,156 over the last quarter. Company insiders own 2.90% of the company’s stock.

Intuit Trading Up 0.8 %

NASDAQ:INTU opened at $609.77 on Tuesday. The stock has a market cap of $170.74 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 3.68 and a beta of 1.21. The company’s 50 day moving average price is $641.98 and its 200-day moving average price is $600.94. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 earnings per share. On average, equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s dividend payout ratio (DPR) is 36.73%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on INTU shares. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Piper Sandler boosted their price target on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Company upped their price objective on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Finally, Mizuho upped their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Company 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.