CoreFirst Bank & Trust Acquires New Position in Intuit Inc. (NASDAQ:INTU)

CoreFirst Bank & Trust bought a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 841 shares of the software maker’s stock, valued at approximately $529,000.

A number of other institutional investors also recently modified their holdings of the stock. Zevenbergen Capital Investments LLC raised its position in Intuit by 7.3% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 26,211 shares of the software maker’s stock valued at $16,474,000 after acquiring an additional 1,790 shares in the last quarter. ICW Investment Advisors LLC increased its stake in shares of Intuit by 33.8% during the 4th quarter. ICW Investment Advisors LLC now owns 1,295 shares of the software maker’s stock worth $814,000 after purchasing an additional 327 shares during the last quarter. Corebridge Financial Inc. lifted its position in Intuit by 0.6% during the 4th quarter. Corebridge Financial Inc. now owns 96,134 shares of the software maker’s stock worth $60,420,000 after acquiring an additional 591 shares during the last quarter. Congress Wealth Management LLC DE boosted its holdings in Intuit by 2.0% during the fourth quarter. Congress Wealth Management LLC DE now owns 30,207 shares of the software maker’s stock valued at $18,986,000 after acquiring an additional 584 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 363 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $228,145.50. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $11,941.50. This trade represents a 95.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,733 shares of company stock valued at $77,947,205 in the last ninety days. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on INTU. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. BMO Capital Markets cut their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Mizuho raised their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Scotiabank decreased their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $613.09 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business’s fifty day moving average price is $596.08 and its two-hundred day moving average price is $622.74. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The stock has a market capitalization of $171.40 billion, a price-to-earnings ratio of 59.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

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.