Grove Bank & Trust Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Grove Bank & Trust raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 976 shares of the software maker’s stock after buying an additional 43 shares during the quarter. Grove Bank & Trust’s holdings in Intuit were worth $613,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of INTU. Brady Martz Wealth Solutions LLC bought a new position in shares of Intuit during the 4th quarter worth approximately $342,000. Liberty One Investment Management LLC grew its holdings in Intuit by 6.5% in the fourth quarter. Liberty One Investment Management LLC now owns 7,165 shares of the software maker’s stock worth $4,503,000 after purchasing an additional 436 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its position in shares of Intuit by 1.9% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 2,456 shares of the software maker’s stock worth $1,544,000 after purchasing an additional 45 shares in the last quarter. Smith Salley Wealth Management lifted its holdings in shares of Intuit by 7.3% during the 4th quarter. Smith Salley Wealth Management now owns 1,978 shares of the software maker’s stock valued at $1,243,000 after purchasing an additional 135 shares during the last quarter. Finally, Raub Brock Capital Management LP boosted its position in shares of Intuit by 1.0% in the 4th quarter. Raub Brock Capital Management LP now owns 30,263 shares of the software maker’s stock worth $19,021,000 after purchasing an additional 291 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $604.13 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The business’s 50 day moving average is $646.09 and its two-hundred day moving average is $636.93. The company has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. Analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. Finally, Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $726.53.

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.