Washington Trust Advisors Inc. Acquires 70 Shares of Intuit Inc. (NASDAQ:INTU)

Washington Trust Advisors Inc. grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 63.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180 shares of the software maker’s stock after acquiring an additional 70 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Intuit were worth $117,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. DiNuzzo Private Wealth Inc. purchased a new position in shares of Intuit during the 4th quarter valued at about $25,000. West Branch Capital LLC raised its holdings in shares of Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after buying an additional 19 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit during the 4th quarter valued at about $38,000. Finally, Sachetta LLC purchased a new position in shares of Intuit during the 4th quarter valued at about $39,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on INTU shares. Wells Fargo & Company raised their price objective on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Royal Bank of Canada began coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective on the stock. Stifel Nicolaus decreased their price target on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Citigroup lifted their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Morgan Stanley lifted their price target on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $687.22.

Intuit Stock Up 1.2 %

Shares of NASDAQ INTU traded up $7.97 during mid-day trading on Tuesday, hitting $666.15. 988,318 shares of the stock traded hands, compared to its average volume of 1,335,485. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a market cap of $186.22 billion, a price-to-earnings ratio of 60.81, a PEG ratio of 3.67 and a beta of 1.23. The stock has a fifty day moving average price of $624.05 and a 200-day moving average price of $630.76.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating the consensus estimate of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period in the previous year, the company posted $7.80 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Research analysts anticipate that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.54%. Intuit’s dividend payout ratio is presently 33.21%.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the sale, the executive vice president now directly owns 869 shares in the company, valued at $525,380.02. The disclosure for this sale can be found here. Insiders have sold 195,963 shares of company stock worth $114,442,445 over the last ninety days. 2.90% of the stock is owned by corporate insiders.

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.