Plimoth Trust Co. LLC Cuts Stake in Intuit Inc. (NASDAQ:INTU)

Plimoth Trust Co. LLC reduced its position in Intuit Inc. (NASDAQ:INTU) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,190 shares of the software maker’s stock after selling 35 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Intuit were worth $739,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in Intuit by 940.4% in the first 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 in the last quarter. Vanguard Group Inc. increased 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 acquiring an additional 283,291 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Intuit in the 2nd quarter worth $184,982,000. Ameriprise Financial Inc. raised its position in shares of Intuit by 17.3% in the 2nd 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 in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Intuit by 21.3% during the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after purchasing an additional 169,190 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock traded up $0.64 during trading hours on Monday, reaching $613.93. The stock had a trading volume of 990,769 shares, compared to its average volume of 1,323,497. The stock’s 50 day moving average is $630.40 and its 200 day moving average is $627.57. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The firm has a market capitalization of $171.62 billion, a PE ratio of 56.58, a PEG ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share. Equities analysts expect that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Jefferies Financial Group raised their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

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.