Colonial Trust Co SC Acquires 55 Shares of Intuit Inc. (NASDAQ:INTU)

Colonial Trust Co SC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 13.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468 shares of the software maker’s stock after purchasing an additional 55 shares during the period. Colonial Trust Co SC’s holdings in Intuit were worth $294,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of INTU. Norges Bank bought a new position in shares of Intuit in the fourth quarter worth about $2,290,419,000. Proficio Capital Partners LLC raised its position in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Unisphere Establishment boosted its position in Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after buying an additional 500,000 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock valued at $2,118,682,000 after buying an additional 498,030 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several recent research reports. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Citigroup dropped their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $717.53.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is owned by insiders.

Intuit Trading Up 2.3 %

INTU opened at $640.98 on Thursday. The firm’s fifty day simple moving average is $600.16 and its 200 day simple moving average is $616.82. The stock has a market capitalization of $179.19 billion, a P/E ratio of 62.23, a P/E/G ratio of 2.85 and a beta of 1.24. 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 $532.65 and a 12 month high of $714.78.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were issued a dividend of $1.04 per share. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit’s payout ratio is presently 38.81%.

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.