Whittier Trust Co. Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Whittier Trust Co. boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 40,256 shares of the software maker’s stock after acquiring an additional 1,077 shares during the period. Whittier Trust Co.’s holdings in Intuit were worth $24,999,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in INTU. Northwest Investment Counselors LLC bought a new position in Intuit during the third quarter valued at about $27,000. Crew Capital Management Ltd. lifted its holdings in shares of Intuit by 9.6% in the third quarter. Crew Capital Management Ltd. now owns 1,775 shares of the software maker’s stock valued at $1,102,000 after purchasing an additional 155 shares in the last quarter. Trilogy Capital Inc. boosted its position in shares of Intuit by 26.5% in the third quarter. Trilogy Capital Inc. now owns 2,655 shares of the software maker’s stock worth $1,649,000 after buying an additional 557 shares during the period. Vest Financial LLC grew its holdings in shares of Intuit by 105.5% during the third quarter. Vest Financial LLC now owns 2,357 shares of the software maker’s stock valued at $1,464,000 after buying an additional 1,210 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC lifted its stake in Intuit by 21.9% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 6,618 shares of the software maker’s stock worth $4,110,000 after acquiring an additional 1,188 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INTU has been the subject of several recent research reports. Barclays cut their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Citigroup raised their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $735.71.

Intuit Stock Down 0.1 %

INTU stock traded down $0.53 during midday trading on Monday, hitting $612.76. The company’s stock had a trading volume of 441,548 shares, compared to its average volume of 1,320,792. The company’s fifty day moving average price is $630.40 and its 200 day moving average price is $627.57. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $171.30 billion, a P/E ratio of 56.58, a PEG ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts predict that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were 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 was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 38.38%.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by insiders.

Intuit Company 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.