City Holding Co. Reduces Stock Position in Intuit Inc. (NASDAQ:INTU)

City Holding Co. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 11.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,990 shares of the software maker’s stock after selling 941 shares during the period. City Holding Co.’s holdings in Intuit were worth $4,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC purchased a new stake in shares of Intuit in the 4th quarter worth about $467,852,000. SG Americas Securities LLC boosted its stake in shares of Intuit by 940.4% during the 1st quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock valued at $205,186,000 after purchasing an additional 285,328 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after buying an additional 283,291 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Intuit in the second quarter worth about $184,982,000. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,297 shares of company stock valued at $32,750,926. Company insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $613.37 on Wednesday. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a market capitalization of $171.47 billion, a P/E ratio of 56.58, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. The firm has a 50 day moving average of $632.16 and a 200 day moving average of $629.14. 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 posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. As a group, equities research analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INTU. Citigroup lifted their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Stifel Nicolaus lifted their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group increased their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Susquehanna restated a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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.