Grove Bank & Trust Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Grove Bank & Trust grew its holdings in Intuit Inc. (NASDAQ:INTU) by 4.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm 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 quarter.

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

Insider Activity

In other 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 value of $48,136,500.00. Following the completion of the sale, the insider now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 in the last ninety days. Insiders own 2.68% of the company’s stock.

Intuit Stock Down 0.5 %

NASDAQ INTU opened at $604.13 on Monday. The stock has a 50 day moving average price of $646.09 and a 200-day moving average price of $636.93. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. 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. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business earned $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INTU. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus cut their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley raised their target price 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit 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.