Citizens National Bank Trust Department Has $1.59 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Citizens National Bank Trust Department lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,557 shares of the software maker’s stock after purchasing an additional 140 shares during the quarter. Citizens National Bank Trust Department’s holdings in Intuit were worth $1,588,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC bought a new position in shares of Intuit during the second quarter worth approximately $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit during the second quarter worth approximately $26,000. Fairway Wealth LLC bought a new position in shares of Intuit during the second quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit during the third quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit during the second quarter worth approximately $35,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

NASDAQ INTU opened at $621.74 on Monday. The company has a market capitalization of $174.27 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 2.98 and a beta of 1.25. Intuit Inc. has a twelve month low of $489.55 and a twelve month high of $676.62. The stock has a fifty day simple moving average of $622.92 and a 200 day simple moving average of $626.64. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Sell-side analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 39.81%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Barclays decreased their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $735.71.

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.