Hancock Whitney Corp Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Hancock Whitney Corp raised its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,376 shares of the software maker's stock after buying an additional 609 shares during the period. Hancock Whitney Corp's holdings in Intuit were worth $12,178,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Invst LLC bought a new stake in shares of Intuit in the 3rd quarter worth approximately $203,000. Virtu Financial LLC purchased a new position in shares of Intuit in the third quarter worth approximately $7,506,000. Anchor Investment Management LLC grew its position in shares of Intuit by 6.6% during the 3rd quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker's stock valued at $1,500,000 after acquiring an additional 150 shares during the period. World Investment Advisors LLC purchased a new stake in Intuit in the third quarter worth about $201,000. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Intuit by 7.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 25,869 shares of the software maker's stock valued at $16,065,000 after purchasing an additional 1,721 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Intuit from a "neutral" rating to an "overweight" rating and raised their target price for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Mizuho raised their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Piper Sandler reiterated an "overweight" rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Citigroup lowered their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, BMO Capital Markets dropped their price objective on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $717.53.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock worth $14,347,731 in the last three months. Company insiders own 2.68% of the company's stock.

Intuit Price Performance

Shares of INTU opened at $596.05 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock's 50 day moving average is $592.04 and its two-hundred day moving average is $615.98. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. The firm has a market capitalization of $166.63 billion, a PE ratio of 57.87, a P/E/G ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Thursday, April 10th. Intuit's dividend payout ratio is presently 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.

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