Central Pacific Bank Trust Division Trims Position in Intuit Inc. (NASDAQ:INTU)

Central Pacific Bank Trust Division trimmed its position in Intuit Inc. (NASDAQ:INTU) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,109 shares of the software maker’s stock after selling 149 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Intuit were worth $2,583,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brown Financial Advisors raised its position in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares in the last quarter. Truvestments Capital LLC lifted its stake in Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the last quarter. PFG Investments LLC boosted its holdings in shares of Intuit by 1.1% in the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after purchasing an additional 17 shares in the last quarter. Plancorp LLC increased its position in shares of Intuit by 2.0% during the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after purchasing an additional 17 shares during the last quarter. Finally, Aviso Wealth Management raised its holdings in shares of Intuit by 4.9% during the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 1.1 %

Shares of INTU stock traded up $7.00 during trading hours on Friday, hitting $629.79. 478,982 shares of the company’s stock traded hands, compared to its average volume of 824,867. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $176.29 billion, a price-to-earnings ratio of 61.14, a PEG ratio of 3.24 and a beta of 1.24. The stock’s fifty day simple moving average is $648.62 and its two-hundred day simple moving average is $637.79. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.66%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This represents a 89.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 262,814 shares of company stock worth $170,119,823. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on INTU shares. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Scotiabank began coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Piper Sandler lowered their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

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.