National Bank of Canada FI Sells 120,583 Shares of Intuit Inc. (NASDAQ:INTU)

National Bank of Canada FI lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 30.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 273,316 shares of the software maker’s stock after selling 120,583 shares during the quarter. National Bank of Canada FI’s holdings in Intuit were worth $164,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Miracle Mile Advisors LLC grew its holdings in Intuit by 0.7% during the 3rd quarter. Miracle Mile Advisors LLC now owns 3,235 shares of the software maker’s stock valued at $1,653,000 after buying an additional 22 shares in the last quarter. Sage Mountain Advisors LLC increased its holdings in Intuit by 17.1% in the 3rd quarter. Sage Mountain Advisors LLC now owns 822 shares of the software maker’s stock valued at $420,000 after acquiring an additional 120 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Intuit by 1.7% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 3,826 shares of the software maker’s stock worth $1,955,000 after purchasing an additional 65 shares in the last quarter. Legal Advantage Investments Inc. boosted its holdings in shares of Intuit by 0.3% during the 3rd quarter. Legal Advantage Investments Inc. now owns 9,133 shares of the software maker’s stock valued at $4,666,000 after purchasing an additional 31 shares during the last quarter. Finally, Concord Wealth Partners grew its position in shares of Intuit by 10.5% during the third quarter. Concord Wealth Partners now owns 673 shares of the software maker’s stock valued at $344,000 after purchasing an additional 64 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by corporate insiders.

Intuit Trading Up 2.5 %

INTU traded up $15.23 on Friday, reaching $629.27. 1,109,512 shares of the company traded hands, compared to its average volume of 1,209,705. The company has a market cap of $176.20 billion, a P/E ratio of 64.21, a price-to-earnings-growth ratio of 3.74 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The firm has a fifty day simple moving average of $637.56 and a two-hundred day simple moving average of $605.68.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, equities research analysts expect that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is 36.73%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTU shares. Oppenheimer increased their price target on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. KeyCorp boosted their price target on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Piper Sandler increased their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

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.