Cullen Frost Bankers Inc. Sells 302 Shares of Intuit Inc. (NASDAQ:INTU)

Cullen Frost Bankers Inc. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,916 shares of the software maker’s stock after selling 302 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Intuit were worth $11,198,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of INTU. DiNuzzo Private Wealth Inc. bought a new stake in Intuit in the 4th quarter worth approximately $25,000. MCF Advisors LLC increased its position in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. NewSquare Capital LLC bought a new position in shares of Intuit during the 3rd quarter valued at approximately $25,000. Cape Investment Advisory Inc. bought a new position in shares of Intuit during the 3rd quarter valued at approximately $26,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Intuit during the 4th quarter valued at approximately $38,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Down 1.4 %

Shares of NASDAQ INTU traded down $8.72 during mid-day trading on Wednesday, reaching $632.43. 889,523 shares of the company were exchanged, compared to its average volume of 1,228,042. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $177.08 billion, a price-to-earnings ratio of 64.53, a P/E/G ratio of 3.83 and a beta of 1.22. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The firm has a 50-day moving average of $636.41 and a 200 day moving average of $608.45.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the business posted $1.05 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, research analysts expect that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Analyst Ratings Changes

Several research firms have recently weighed in on INTU. Barclays boosted their target price on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Mizuho boosted their target price on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Wells Fargo & Company boosted their target price on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. boosted their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Finally, KeyCorp upped their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and eighteen have assigned a 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 target price of $650.23.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 in the last ninety days. Corporate insiders own 2.90% 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.