Ledyard National Bank Decreases Stake in Intuit Inc. (NASDAQ:INTU)

Ledyard National Bank trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 16.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 475 shares of the software maker’s stock after selling 94 shares during the period. Ledyard National Bank’s holdings in Intuit were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in INTU. Brown Financial Advisors raised its position in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares in the last quarter. Truvestments Capital LLC raised its holdings in Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares in the last quarter. CVA Family Office LLC lifted its position in shares of Intuit by 3.3% during the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after buying an additional 17 shares during the last quarter. Chris Bulman Inc boosted its holdings in shares of Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after buying an additional 17 shares in the last quarter. Finally, Freedom Day Solutions LLC grew its position in shares of Intuit by 0.4% in the 3rd quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock valued at $2,599,000 after buying an additional 17 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Down 1.9 %

Intuit stock opened at $578.85 on Friday. The stock’s 50 day moving average price is $627.45 and its 200 day moving average price is $632.08. The company has a market cap of $162.03 billion, a PE ratio of 56.20, a price-to-earnings-growth ratio of 2.96 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the sale, the chief executive officer now directly owns 37,869 shares in the company, valued at $23,701,828.41. This trade represents a 41.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 in the last quarter. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on INTU shares. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Morgan Stanley upped their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $726.53.

About Intuit

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.