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

Cullen Frost Bankers Inc. reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,916 shares of the software maker’s stock after selling 302 shares during the period. Cullen Frost Bankers Inc.’s holdings in Intuit were worth $11,198,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTU. Evexia Wealth LLC raised its position in shares of Intuit by 1.5% in the 4th quarter. Evexia Wealth LLC now owns 16,682 shares of the software maker’s stock valued at $10,670,000 after acquiring an additional 251 shares during the period. Picton Mahoney Asset Management increased its stake in Intuit by 8.4% in the fourth quarter. Picton Mahoney Asset Management now owns 14,404 shares of the software maker’s stock valued at $9,003,000 after purchasing an additional 1,117 shares in the last quarter. Everpar Advisors LLC bought a new position in shares of Intuit during the fourth quarter worth $782,000. Gryphon Financial Partners LLC grew its holdings in shares of Intuit by 31.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock valued at $1,022,000 after buying an additional 393 shares during the period. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Intuit in the fourth quarter valued at about $180,000. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 over the last quarter. 2.90% of the stock is owned by company insiders.

Intuit Stock Performance

NASDAQ:INTU traded down $8.72 during mid-day trading on Wednesday, hitting $632.43. 889,523 shares of the stock were exchanged, compared to its average volume of 1,228,042. The firm’s 50-day simple moving average is $636.41 and its 200 day simple moving average is $608.45. The stock has a market capitalization of $177.08 billion, a price-to-earnings ratio of 64.53, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INTU. JPMorgan Chase & Co. increased their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Oppenheimer upped their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Mizuho upped their price objective on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

About Intuit

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.