Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 1,344 Shares of Intuit Inc. (NASDAQ:INTU)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in Intuit Inc. (NASDAQ:INTU) by 0.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 936,599 shares of the software maker’s stock after selling 1,344 shares during the period. Intuit makes up 5.0% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 3rd largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.34% of Intuit worth $565,687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after purchasing an additional 283,291 shares in the last quarter. Legal & General Group Plc increased its stake in Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after purchasing an additional 23,995 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the last quarter. Principal Financial Group Inc. raised its stake in Intuit by 4.2% during the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after purchasing an additional 56,370 shares during the period. Finally, Capital World Investors raised its position in shares of Intuit by 1.0% in the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after buying an additional 12,068 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 over the last 90 days. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on INTU shares. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays dropped their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Royal Bank of Canada initiated coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Trading Up 0.4 %

Shares of NASDAQ INTU traded up $2.78 during mid-day trading on Wednesday, hitting $626.48. 72,692 shares of the company traded hands, compared to its average volume of 1,311,037. The business has a 50 day moving average of $624.96 and a two-hundred day moving average of $626.52. The stock has a market capitalization of $175.13 billion, a price-to-earnings ratio of 57.54, a PEG ratio of 2.98 and a beta of 1.24. Intuit Inc. has a 1 year low of $481.94 and a 1 year high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. On average, sell-side analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 38.38%.

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.