Sandy Spring Bank Has $298,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Sandy Spring Bank trimmed its position in Intuit Inc. (NASDAQ:INTU) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477 shares of the software maker’s stock after selling 34 shares during the period. Sandy Spring Bank’s holdings in Intuit were worth $298,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Intuit during the 3rd quarter worth approximately $51,000. V Square Quantitative Management LLC raised its holdings in shares of Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after purchasing an additional 482 shares during the last quarter. Rehmann Capital Advisory Group acquired a new stake in shares of Intuit in the second quarter valued at approximately $285,000. Compagnie Lombard Odier SCmA raised its holdings in shares of Intuit by 27.5% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of Intuit by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after purchasing an additional 2,074 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on INTU. Susquehanna lifted their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Stifel Nicolaus raised their target price on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Oppenheimer raised their target price on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, KeyCorp raised their target price on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,717 shares of company stock worth $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit Stock Down 1.1 %

Shares of NASDAQ INTU opened at $621.11 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a market cap of $173.91 billion, a price-to-earnings ratio of 63.38, a PEG ratio of 3.82 and a beta of 1.21. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The stock has a 50-day moving average price of $646.53 and a two-hundred day moving average price of $595.60.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 earnings per share. As a group, analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) 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.