Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 13,020 Shares of Intuit Inc. (NASDAQ:INTU)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in Intuit Inc. (NASDAQ:INTU) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 966,928 shares of the software maker’s stock after selling 13,020 shares during the period. Intuit makes up approximately 6.1% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 3rd largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.35% of Intuit worth $610,451,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Desjardins Global Asset Management Inc. raised its holdings in Intuit by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares during the last quarter. GAM Holding AG grew its position in shares of Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after buying an additional 17 shares during the period. Janiczek Wealth Management LLC grew its position in shares of Intuit by 2.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after buying an additional 17 shares during the period. Clear Harbor Asset Management LLC grew its position in shares of Intuit by 0.4% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock worth $3,027,000 after buying an additional 18 shares during the period. Finally, Glenview Trust co grew its position in shares of Intuit by 1.9% during the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after buying an additional 19 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Intuit stock traded up $4.60 during midday trading on Monday, reaching $609.77. The stock had a trading volume of 1,056,202 shares, compared to its average volume of 1,246,259. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The firm’s 50-day moving average price is $641.98 and its 200 day moving average price is $600.94. The firm has a market capitalization of $170.74 billion, a PE ratio of 62.22, a P/E/G ratio of 3.68 and a beta of 1.21. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the business posted $1.05 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, research analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is presently 36.73%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Barclays lifted their price target on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Finally, Stifel Nicolaus lifted their price target on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $645.00.

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.