Intuit Inc. (NASDAQ:INTU) Shares Bought by Private Trust Co. NA

Private Trust Co. NA grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,055 shares of the software maker’s stock after purchasing an additional 20 shares during the quarter. Private Trust Co. NA’s holdings in Intuit were worth $659,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of INTU. Vanguard Group Inc. boosted its position in shares of Intuit by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after buying an additional 117,478 shares during the period. State Street Corp boosted its position in Intuit by 1.9% during the first quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock valued at $4,948,558,000 after purchasing an additional 210,246 shares during the last quarter. FMR LLC boosted its position in Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after purchasing an additional 266,803 shares during the last quarter. Morgan Stanley boosted its position in Intuit by 3.7% during the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after purchasing an additional 137,198 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Intuit by 5.2% during the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after purchasing an additional 160,229 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Also, 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 transaction of $178,186.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,489 shares of company stock worth $11,958,493. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INTU. Stifel Nicolaus boosted their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price target on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Piper Sandler boosted their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. KeyCorp boosted their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Stock Up 2.3 %

NASDAQ:INTU opened at $635.74 on Friday. The stock’s fifty day moving average price is $647.39 and its two-hundred day moving average price is $590.79. Intuit Inc. has a 52-week low of $400.22 and a 52-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. The company has a market cap of $178.01 billion, a price-to-earnings ratio of 64.87, a P/E/G ratio of 3.79 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate 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%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS. On average, analysts anticipate that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

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.