United Community Bank Grows Position in Intuit Inc. (NASDAQ:INTU)

United Community Bank raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 67.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 335 shares of the software maker’s stock after purchasing an additional 135 shares during the quarter. United Community Bank’s holdings in Intuit were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in INTU. DiNuzzo Private Wealth Inc. bought a new stake in shares of Intuit during the fourth quarter valued at about $25,000. West Branch Capital LLC increased its position in shares of Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the last quarter. MCF Advisors LLC increased its position in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Intuit in the fourth quarter worth approximately $38,000. Finally, Sachetta LLC bought a new position in shares of Intuit in the fourth quarter worth approximately $39,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Stifel Nicolaus decreased their price objective on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Jefferies Financial Group restated a “buy” rating and issued a $770.00 price objective on shares of Intuit in a research report on Thursday, June 13th. Finally, UBS Group upped their price objective on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $687.22.

Intuit Stock Down 3.9 %

Intuit stock traded down $25.34 on Wednesday, hitting $625.08. 586,024 shares of the stock traded hands, compared to its average volume of 1,332,838. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm has a market cap of $174.74 billion, a P/E ratio of 60.00, a price-to-earnings-growth ratio of 3.77 and a beta of 1.23. The business’s fifty day simple moving average is $622.66 and its 200 day simple moving average is $630.36. Intuit Inc. has a 1 year low of $455.56 and a 1 year high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $7.80 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio is currently 33.21%.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the completion of the sale, the insider now directly owns 6,701,721 shares in the company, valued at approximately $3,802,556,495.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the sale, the chief financial officer now directly owns 2,332 shares in the company, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is currently owned by company 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.