Heartland Bank & Trust Co Sells 1,227 Shares of Intuit Inc. (NASDAQ:INTU)

Heartland Bank & Trust Co cut its position in Intuit Inc. (NASDAQ:INTU) by 61.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 782 shares of the software maker’s stock after selling 1,227 shares during the period. Heartland Bank & Trust Co’s holdings in Intuit were worth $514,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its position in Intuit by 134.7% during the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after acquiring an additional 2,641 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Intuit by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock worth $112,381,000 after purchasing an additional 1,990 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after buying an additional 2,336,654 shares in the last quarter. Cetera Advisors LLC increased its stake in shares of Intuit by 33.4% in the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after buying an additional 2,655 shares in the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of Intuit by 13.4% in the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock valued at $7,398,000 after buying an additional 1,328 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research analyst reports. Erste Group Bank reissued a “hold” rating on shares of Intuit in a report on Friday, June 14th. Citigroup upped their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Jefferies Financial Group lifted their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. upped their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $768.00 target price on shares of Intuit in a research report on Friday. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $735.71.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,583 shares of company stock valued at $32,975,909. 2.90% of the stock is currently owned by corporate insiders.

Intuit Trading Up 0.3 %

INTU opened at $621.00 on Tuesday. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The firm has a market cap of $173.60 billion, a PE ratio of 57.29, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm’s fifty day moving average is $634.62 and its two-hundred day moving average is $630.21.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate 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 previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is 38.38%.

About Intuit

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.