CoreFirst Bank & Trust Takes Position in Intuit Inc. (NASDAQ:INTU)

CoreFirst Bank & Trust purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, Holdings Channel reports. The fund purchased 841 shares of the software maker’s stock, valued at approximately $529,000.

Several other hedge funds have also added to or reduced their stakes in the company. Zevenbergen Capital Investments LLC raised its holdings in Intuit by 7.3% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 26,211 shares of the software maker’s stock worth $16,474,000 after purchasing an additional 1,790 shares during the last quarter. ICW Investment Advisors LLC raised its stake in shares of Intuit by 33.8% during the fourth quarter. ICW Investment Advisors LLC now owns 1,295 shares of the software maker’s stock worth $814,000 after buying an additional 327 shares during the last quarter. Corebridge Financial Inc. raised its stake in shares of Intuit by 0.6% during the fourth quarter. Corebridge Financial Inc. now owns 96,134 shares of the software maker’s stock worth $60,420,000 after buying an additional 591 shares during the last quarter. Congress Wealth Management LLC DE lifted its holdings in Intuit by 2.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 30,207 shares of the software maker’s stock valued at $18,986,000 after buying an additional 584 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after acquiring an additional 353,185 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marianna Tessel sold 7,385 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the sale, the executive vice president now directly owns 40,190 shares in the company, valued at $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,733 shares of company stock valued at $77,947,205 in the last quarter. 2.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Citigroup reduced their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Performance

INTU opened at $613.09 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $171.40 billion, a price-to-earnings ratio of 59.52, a P/E/G ratio of 2.85 and a beta of 1.27. The business’s 50-day moving average price is $596.08 and its two-hundred day moving average price is $622.74. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

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.