Parkside Financial Bank & Trust Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Parkside Financial Bank & Trust raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,134 shares of the software maker’s stock after acquiring an additional 58 shares during the period. Parkside Financial Bank & Trust’s holdings in Intuit were worth $713,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the 4th quarter worth approximately $29,000. Finally, Denver PWM LLC purchased a new position in shares of Intuit during the 3rd quarter worth approximately $32,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $12,286.92. This represents a 99.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INTU shares. Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Scotiabank lowered their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $717.88.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $613.84 on Friday. The business’s fifty day moving average price is $605.90 and its two-hundred day moving average price is $627.25. The stock has a market cap of $171.82 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78.

Intuit Announces Dividend

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

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.