American Trust Invests $1.13 Million in Intuit Inc. (NASDAQ:INTU)

American Trust bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,814 shares of the software maker’s stock, valued at approximately $1,126,000.

Several other hedge funds have also bought and sold shares of the stock. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit in the second quarter worth $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter valued at $35,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $672.25 on Friday. The stock has a fifty day moving average price of $639.04 and a 200-day moving average price of $631.28. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The firm has a market cap of $188.18 billion, a PE ratio of 65.27, a P/E/G ratio of 3.31 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping 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 company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Intuit’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts predict that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. Intuit’s dividend payout ratio is currently 40.39%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INTU. Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. BMO Capital Markets raised their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Scotiabank initiated coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Bank of America boosted their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 2,461 shares of Intuit 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 of the company’s stock, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,732 shares of company stock worth $81,378,070. 2.68% of the stock is currently owned by insiders.

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.