First Hawaiian Bank Buys 347 Shares of Intuit Inc. (NASDAQ:INTU)

First Hawaiian Bank lifted its stake in Intuit Inc. (NASDAQ:INTU) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,645 shares of the software maker’s stock after buying an additional 347 shares during the period. First Hawaiian Bank’s holdings in Intuit were worth $4,805,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Douglas Lane & Associates LLC lifted its position in Intuit by 109.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock valued at $15,502,000 after purchasing an additional 12,916 shares during the last quarter. Fulton Bank N.A. raised its holdings in Intuit by 19.7% during the 4th quarter. Fulton Bank N.A. now owns 2,233 shares of the software maker’s stock valued at $1,403,000 after buying an additional 367 shares during the last quarter. Spartan Planning & Wealth Management bought a new stake in Intuit in the 4th quarter worth $358,000. Diversified Trust Co raised its stake in shares of Intuit by 28.9% during the fourth quarter. Diversified Trust Co now owns 6,912 shares of the software maker’s stock valued at $4,344,000 after acquiring an additional 1,549 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was 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 owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the completion of the sale, the chief executive officer now owns 37,869 shares in the company, valued at $23,701,828.41. This represents a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 289,848 shares of company stock valued at $187,041,365 over the last 90 days. Company insiders own 2.68% of the company’s stock.

Intuit Stock Performance

INTU traded up $10.62 during midday trading on Wednesday, reaching $626.05. The company had a trading volume of 1,219,090 shares, compared to its average volume of 1,129,298. The business has a 50-day moving average of $649.14 and a two-hundred day moving average of $638.33. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a market cap of $175.24 billion, a P/E ratio of 60.78, a P/E/G ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 EPS. As a group, equities research analysts predict that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s payout ratio is 40.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on INTU shares. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Oppenheimer raised their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Morgan Stanley boosted their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $737.44.

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.