American National Bank & Trust Buys 1,030 Shares of Intuit Inc. (NASDAQ:INTU)

American National Bank & Trust raised its stake in Intuit Inc. (NASDAQ:INTU) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,900 shares of the software maker’s stock after purchasing an additional 1,030 shares during the period. American National Bank & Trust’s holdings in Intuit were worth $9,762,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Intuit during the fourth quarter worth about $2,290,419,000. GAMMA Investing LLC increased its holdings in shares of Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after buying an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares during the period. 83.66% of the stock is owned by institutional investors.

Insider Activity

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares of the company’s stock, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,804 shares of company stock valued at $138,081,963 over the last quarter. 2.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $850.00 price objective (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. JPMorgan Chase & Co. increased their target price on Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Piper Sandler restated an “overweight” rating and issued a $825.00 price target (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $785.00 price objective (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $742.00 price objective (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $785.33.

Intuit Stock Performance

Shares of Intuit stock opened at $752.04 on Friday. The company’s 50 day moving average price is $630.69 and its two-hundred day moving average price is $622.93. The firm has a market capitalization of $210.24 billion, a P/E ratio of 73.01, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $761.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $9.88 EPS. On average, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is currently 33.77%.

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.