Webster Bank N. A. Buys Shares of 65 Intuit Inc. (NASDAQ:INTU)

Webster Bank N. A. bought a new stake in shares of Intuit Inc. (NASDAQ:INTUFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 65 shares of the software maker’s stock, valued at approximately $41,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. NewSquare Capital LLC bought a new stake in shares of Intuit during the 3rd quarter valued at $25,000. Cape Investment Advisory Inc. bought a new stake in shares of Intuit during the 3rd quarter valued at $26,000. Steward Financial Group LLC grew its position in shares of Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after acquiring an additional 20 shares during the period. Aspire Private Capital LLC grew its position in shares of Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after acquiring an additional 39 shares during the period. Finally, BluePath Capital Management LLC bought a new position in Intuit in the 3rd quarter worth $43,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on INTU. KeyCorp upped their target price on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Mizuho upped their target price on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. upped their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Susquehanna upped their target price on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Finally, Piper Sandler upped their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Read Our Latest Stock Analysis on INTU

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 14,771 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 14,771 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the completion of the sale, the executive vice president now owns 50,030 shares of the company’s stock, valued at $29,497,688. The disclosure for this sale can be found here. Insiders have sold 34,260 shares of company stock worth $20,667,475 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Down 2.1 %

Shares of NASDAQ INTU opened at $626.59 on Wednesday. The firm’s 50-day moving average price is $648.25 and its 200-day moving average price is $589.72. 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 stock has a market capitalization of $175.45 billion, a price-to-earnings ratio of 63.94, a P/E/G ratio of 3.90 and a beta of 1.21. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01.

Intuit (NASDAQ:INTUGet Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.39 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s dividend payout ratio is currently 36.73%.

Intuit Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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