Intuit Inc. (NASDAQ:INTU) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. cut its position in Intuit Inc. (NASDAQ:INTU) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Copia Wealth Management acquired a new position in Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC boosted 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 in the last quarter. Summit Securities Group LLC purchased a new position in Intuit in the fourth quarter valued at $28,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the fourth quarter worth about $28,000. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Intuit during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on INTU. UBS Group set a $750.00 target price on Intuit and gave the company a “neutral” rating in a research 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. Wall Street Zen raised Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Finally, KeyCorp reissued an “overweight” rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $785.33.

Intuit Trading Down 0.9%

Shares of INTU opened at $764.38 on Tuesday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The firm has a market capitalization of $213.22 billion, a P/E ratio of 74.21, a P/E/G ratio of 2.85 and a beta of 1.28. The firm has a 50-day moving average price of $649.11 and a 200 day moving average price of $626.71. 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 (NASDAQ:INTU) 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. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.88 EPS. Sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. Intuit’s dividend payout ratio is currently 33.77%.

Insider Activity

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the company’s 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 transaction, the director now owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Marianna Tessel sold 7,385 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their position. 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 in the last quarter. Insiders own 2.68% of the company’s stock.

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.