AMG National Trust Bank Acquires 58 Shares of Intuit Inc. (NASDAQ:INTU)

AMG National Trust Bank lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,466 shares of the software maker’s stock after purchasing an additional 58 shares during the period. AMG National Trust Bank’s holdings in Intuit were worth $921,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in INTU. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC boosted its holdings in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the fourth quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit in the fourth quarter valued at about $29,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,811 shares of company stock valued at $142,391,012 over the last 90 days. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INTU. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and raised their price target for the company from $640.00 to $660.00 in a report on Wednesday. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Scotiabank decreased their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Trading Up 0.5 %

NASDAQ INTU opened at $609.61 on Friday. The firm has a market cap of $170.42 billion, a P/E ratio of 59.19, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50-day moving average is $602.28 and its 200-day moving average is $625.44. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

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.