Intuit Inc. (NASDAQ:INTU) Shares Bought by WASHINGTON TRUST Co

WASHINGTON TRUST Co grew its position in Intuit Inc. (NASDAQ:INTU) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154 shares of the software maker’s stock after purchasing an additional 20 shares during the period. WASHINGTON TRUST Co’s holdings in Intuit were worth $96,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of INTU. OFI Invest Asset Management acquired a new stake in shares of Intuit in the third quarter worth $51,000. V Square Quantitative Management LLC lifted its stake in shares of Intuit by 18.8% during the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after purchasing an additional 482 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Intuit by 2,017.2% in the second quarter. Orion Portfolio Solutions LLC now owns 46,007 shares of the software maker’s stock worth $22,282,000 after buying an additional 43,834 shares during the period. Rehmann Capital Advisory Group acquired a new stake in shares of Intuit in the second quarter valued at about $285,000. Finally, Compagnie Lombard Odier SCmA raised its holdings in shares of Intuit by 27.5% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after buying an additional 1,900 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 related news, EVP Laura A. Fennell sold 14,771 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the completion of the transaction, the executive vice president now owns 50,030 shares of the company’s stock, valued at $29,497,688. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 14,771 shares of Intuit stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $589.60, for a total value of $8,708,981.60. Following the transaction, the executive vice president now directly owns 50,030 shares in the company, valued at approximately $29,497,688. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,260 shares of company stock valued at $20,667,475. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on INTU. Stifel Nicolaus increased their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Piper Sandler raised their target price on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Barclays increased their price target on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Mizuho lifted their price objective on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Intuit Stock Performance

Shares of INTU stock opened at $650.00 on Friday. The business has a 50 day simple moving average of $646.73 and a 200 day simple moving average of $587.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $182 billion, a price-to-earnings ratio of 66.33, a price-to-earnings-growth ratio of 3.95 and a beta of 1.22. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion for 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 company’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. On average, equities research analysts anticipate that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

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.