Intuit Inc. (NASDAQ:INTU) Stock Position Reduced by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. decreased its position in Intuit Inc. (NASDAQ:INTU) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Intuit by 68,404.7% during the third 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 during the last quarter. SG Americas Securities LLC lifted its position in shares of Intuit by 940.4% in the 1st quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after buying an additional 285,328 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after buying an additional 283,291 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Intuit during the 2nd quarter valued at about $184,982,000. Finally, Ameriprise Financial Inc. raised its stake in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 1.6 %

Shares of NASDAQ:INTU traded up $9.40 during midday trading on Friday, reaching $613.38. The company had a trading volume of 71,928 shares, compared to its average volume of 1,313,527. The company has a fifty day simple moving average of $628.71 and a two-hundred day simple moving average of $627.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $171.47 billion, a price-to-earnings ratio of 55.72, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62.

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

Intuit Increases Dividend

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

Insider Transactions 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 completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Citigroup upped their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Bank of America boosted their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $735.71.

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.