Bath Savings Trust Co Buys 2,007 Shares of Intuit Inc. (NASDAQ:INTU)

Bath Savings Trust Co boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,221 shares of the software maker’s stock after buying an additional 2,007 shares during the period. Intuit makes up about 2.5% of Bath Savings Trust Co’s portfolio, making the stock its 10th largest position. Bath Savings Trust Co’s holdings in Intuit were worth $21,178,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new stake in shares of Intuit during the 1st quarter valued at $25,000. Raleigh Capital Management Inc. grew its stake in shares of Intuit by 100.0% during the 1st quarter. Raleigh Capital Management Inc. now owns 58 shares of the software maker’s stock worth $26,000 after acquiring an additional 29 shares during the period. Activest Wealth Management bought a new position in shares of Intuit during the 1st quarter worth $27,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Intuit during the 1st quarter worth $29,000. Finally, Barrett & Company Inc. bought a new position in shares of Intuit during the 1st quarter worth $29,000. 82.63% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

INTU traded down $1.46 during midday trading on Monday, hitting $536.62. The stock had a trading volume of 386,087 shares, compared to its average volume of 1,610,950. The company has a market cap of $150.41 billion, a P/E ratio of 63.46, a price-to-earnings-growth ratio of 3.32 and a beta of 1.19. The business has a fifty day moving average of $509.54 and a 200 day moving average of $460.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 1.47. Intuit Inc. has a 1 year low of $352.63 and a 1 year high of $558.64.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 24th. The software maker reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.22. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.64 billion. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 earnings per share. As a group, equities analysts forecast that Intuit Inc. will post 11.25 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Monday, October 9th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, October 5th. This is a positive change from Intuit’s previous quarterly dividend of $0.78. Intuit’s dividend payout ratio is 36.97%.

Analysts Set New Price Targets

Several research firms have recently weighed in on INTU. Citigroup increased their price target on Intuit from $495.00 to $565.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Morgan Stanley increased their price target on Intuit from $520.00 to $525.00 in a research note on Wednesday, May 24th. BMO Capital Markets raised their target price on Intuit from $560.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, September 7th. Argus raised their target price on Intuit from $580.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, September 6th. Finally, KeyCorp raised their target price on Intuit from $535.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, September 7th. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $551.73.

Insider Activity

In related news, EVP Laura A. Fennell sold 53,741 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $450.96, for a total value of $24,235,041.36. Following the completion of the sale, the executive vice president now owns 39,896 shares of the company’s stock, valued at $17,991,500.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Laura A. Fennell sold 53,741 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $450.96, for a total value of $24,235,041.36. Following the completion of the sale, the executive vice president now owns 39,896 shares of the company’s stock, valued at $17,991,500.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 10,732 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $531.01, for a total value of $5,698,799.32. Following the completion of the sale, the chief financial officer now directly owns 235 shares of the company’s stock, valued at approximately $124,787.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,927 shares of company stock valued at $44,218,147. 3.18% of the stock is currently owned by company insiders.

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.