Intuit Inc. (NASDAQ:INTU) Shares Sold by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,267 shares of the software maker’s stock after selling 24 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in Intuit were worth $787,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of INTU. International Assets Investment Management LLC boosted its holdings in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares in the last quarter. SG Americas Securities LLC raised its position in Intuit by 940.4% in the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after acquiring an additional 285,328 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after acquiring an additional 283,291 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Intuit during the 2nd quarter worth $184,982,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Up 1.6 %

INTU traded up $9.40 during trading on Friday, hitting $613.38. The company’s stock had a trading volume of 71,928 shares, compared to its average volume of 1,313,527. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The stock has a market cap of $171.47 billion, a PE ratio of 55.72, a PEG ratio of 3.04 and a beta of 1.24. The firm’s 50 day moving average price is $628.71 and its 200-day moving average price is $627.16. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

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

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last ninety days. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research analyst reports. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Bank of America raised their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Jefferies Financial Group boosted their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets raised their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

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.