Intuit Inc. (NASDAQ:INTU) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 936,599 shares of the software maker’s stock after selling 1,344 shares during the period. Intuit comprises 5.0% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 3rd largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Intuit were worth $565,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. Fortitude Family Office LLC grew its holdings in shares of Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after purchasing an additional 16 shares during the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after buying an additional 16 shares in the last quarter. Gemmer Asset Management LLC raised its stake in shares of Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after acquiring an additional 16 shares during the last quarter. Stonebrook Private Inc. boosted its holdings in shares of Intuit by 4.5% in the 1st quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock worth $259,000 after acquiring an additional 17 shares in the last quarter. Finally, PFG Investments LLC grew its position in Intuit by 1.1% during the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of several research analyst reports. Bank of America lifted their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays lowered their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Intuit Stock Performance

INTU traded up $2.78 during trading hours on Wednesday, reaching $626.48. The company’s stock had a trading volume of 72,692 shares, compared to its average volume of 1,311,037. Intuit Inc. has a 52 week low of $481.94 and a 52 week high of $676.62. The firm has a market cap of $175.13 billion, a PE ratio of 57.54, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24. The company’s 50-day moving average is $624.96 and its 200-day moving average is $626.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 EPS. On average, equities analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.66%. Intuit’s payout ratio is 38.38%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intuit news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last 90 days. Company insiders own 2.90% of the company’s stock.

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.