First Western Trust Bank Has $5.69 Million Holdings in Intuit Inc. (NASDAQ:INTU)

First Western Trust Bank reduced its position in Intuit Inc. (NASDAQ:INTU) by 10.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,158 shares of the software maker’s stock after selling 1,102 shares during the quarter. First Western Trust Bank’s holdings in Intuit were worth $5,687,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in shares of Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after purchasing an additional 16 shares during the period. WASHINGTON TRUST Co boosted its holdings in shares of Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after buying an additional 16 shares during the period. Gemmer Asset Management LLC increased its position in shares of Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after acquiring an additional 16 shares in the last quarter. PFG Investments LLC raised its holdings in shares of Intuit by 1.1% during the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after acquiring an additional 17 shares during the period. Finally, Plancorp LLC lifted its position in Intuit by 2.0% in the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. BMO Capital Markets lifted their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Barclays upped their price target on shares of Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $739.24.

Intuit Price Performance

Intuit stock opened at $687.87 on Monday. The company has a market capitalization of $192.80 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 3.36 and a beta of 1.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $552.68 and a 12 month high of $714.78. The stock’s 50 day moving average is $633.08 and its 200-day moving average is $630.19.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm posted $0.40 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.60%. Intuit’s payout ratio is 39.81%.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This trade represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 in the last quarter. Company insiders own 2.90% of the company’s stock.

Intuit 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.