Citizens Financial Group Inc. RI Sells 162 Shares of Intuit Inc. (NASDAQ:INTU)

Citizens Financial Group Inc. RI decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 13,950 shares of the software maker’s stock after selling 162 shares during the period. Citizens Financial Group Inc. RI’s holdings in Intuit were worth $8,565,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Copia Wealth Management bought a new position in shares of Intuit during the 4th quarter valued at $25,000. Heck Capital Advisors LLC purchased a new stake in Intuit during the 4th quarter valued at about $28,000. Olde Wealth Management LLC bought a new position in Intuit during the 1st quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC increased its stake in Intuit by 523.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker’s stock worth $50,000 after purchasing an additional 68 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in Intuit in the 1st quarter worth approximately $50,000. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several recent analyst reports. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. UBS Group set a $750.00 target price on shares of Intuit and gave the stock a “neutral” rating in a report on Friday, May 23rd. Wall Street Zen raised Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Evercore ISI upped their price target on Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a research report on Friday, May 23rd. Finally, Bank of America lifted their price objective on Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $806.27.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $779.47 on Thursday. The firm’s 50-day moving average price is $769.25 and its 200-day moving average price is $665.19. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The company has a market cap of $217.43 billion, a PE ratio of 63.27, a PEG ratio of 2.96 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. Intuit’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.88 earnings per share. As a group, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.5%. Intuit’s payout ratio is presently 33.77%.

Insider Activity

In other news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the transaction, the director directly owned 15,474 shares of the company’s stock, valued at $11,890,685.82. The trade was a 2.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 1,738 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the sale, the chief accounting officer directly owned 455 shares of the company’s stock, valued at $356,760.95. This represents a 79.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,800 shares of company stock worth $209,725,054. Company insiders own 2.68% 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.