Arlington Trust Co LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

Arlington Trust Co LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,094 shares of the software maker’s stock after purchasing an additional 68 shares during the quarter. Arlington Trust Co LLC’s holdings in Intuit were worth $1,316,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Brown Financial Advisors lifted its stake in Intuit by 0.9% in the third 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 during the period. Truvestments Capital LLC lifted its stake in Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after acquiring an additional 16 shares during the period. CVA Family Office LLC lifted its stake in Intuit by 3.3% in the third quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after acquiring an additional 17 shares during the period. Chris Bulman Inc lifted its stake in Intuit by 1.1% in the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after acquiring an additional 17 shares during the period. Finally, Freedom Day Solutions LLC lifted its stake in Intuit by 0.4% in the third quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock worth $2,599,000 after acquiring an additional 17 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INTU. Morgan Stanley upped their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Barclays lowered their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group raised their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total transaction of $814,346.00. Following the sale, the chief financial officer now directly owns 644 shares in the company, valued at $403,414.48. The trade was a 66.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by insiders.

Intuit Stock Performance

INTU opened at $578.85 on Monday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $162.03 billion, a PE ratio of 56.20, a P/E/G ratio of 2.91 and a beta of 1.24. The firm has a 50 day moving average of $626.20 and a two-hundred day moving average of $631.58.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) 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 company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the firm posted $1.14 EPS. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

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.