Intuit Inc. (NASDAQ:INTU) Stake Boosted by Cambridge Trust Co.

Cambridge Trust Co. raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 63.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160 shares of the software maker’s stock after buying an additional 62 shares during the quarter. Cambridge Trust Co.’s holdings in Intuit were worth $100,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC purchased a new stake in Intuit in the 3rd quarter worth about $25,000. Cape Investment Advisory Inc. purchased a new stake in shares of Intuit in the third quarter worth approximately $26,000. Steward Financial Group LLC boosted its holdings in shares of Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares during the period. Aspire Private Capital LLC grew its position in Intuit by 144.4% during the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after purchasing an additional 39 shares in the last quarter. Finally, Webster Bank N. A. acquired a new position in Intuit in the 4th quarter valued at approximately $41,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

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

Intuit Price Performance

NASDAQ:INTU opened at $605.17 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The company has a fifty day moving average price of $642.93 and a 200 day moving average price of $599.06. The stock has a market cap of $169.45 billion, a P/E ratio of 61.75, a PEG ratio of 3.70 and a beta of 1.21.

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

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is presently 36.73%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted 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. Oppenheimer boosted their target price on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Stifel Nicolaus raised their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Wells Fargo & Company lifted their price target on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Finally, Evercore ISI increased their price objective on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average price target of $645.00.

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.