Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in Intuit Inc. (NASDAQ:INTU) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,064,871 shares of the software maker’s stock after selling 21,041 shares during the quarter. Intuit accounts for 4.2% 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 approximately 0.41% of Intuit worth $278,368,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. CenturyLink Investment Management Co boosted its position in shares of Intuit by 2.3% in the first quarter. CenturyLink Investment Management Co now owns 6,527 shares of the software maker’s stock worth $1,706,000 after acquiring an additional 144 shares during the last quarter. CX Institutional boosted its position in shares of Intuit by 85.5% in the first quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $27,000 after acquiring an additional 47 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in shares of Intuit in the fourth quarter worth approximately $343,000. Pinnacle Bank acquired a new stake in shares of Intuit in the fourth quarter worth approximately $80,000. Finally, American Century Companies Inc. boosted its position in shares of Intuit by 124.4% in the fourth quarter. American Century Companies Inc. now owns 328,557 shares of the software maker’s stock worth $64,676,000 after acquiring an additional 182,169 shares during the last quarter. Institutional investors and hedge funds own 87.69% of the company’s stock.
Shares of NASDAQ:INTU traded up $0.82 during midday trading on Monday, reaching $260.88. The company had a trading volume of 1,595,643 shares, compared to its average volume of 1,525,031. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.13. The firm has a market cap of $67.37 billion, a PE ratio of 57.59, a price-to-earnings-growth ratio of 3.02 and a beta of 1.19. Intuit Inc. has a one year low of $172.74 and a one year high of $272.14.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.72%. Intuit’s dividend payout ratio (DPR) is presently 41.50%.
In other Intuit news, Director Dennis D. Powell sold 4,083 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $248.96, for a total transaction of $1,016,503.68. Following the completion of the sale, the director now owns 3,550 shares in the company, valued at $883,808. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark J. Flournoy sold 5,939 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $251.18, for a total transaction of $1,491,758.02. Following the sale, the vice president now owns 3,626 shares of the company’s stock, valued at approximately $910,778.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,609 shares of company stock valued at $22,757,853. Insiders own 4.60% of the company’s stock.
Several equities research analysts recently issued reports on INTU shares. KeyCorp began coverage on shares of Intuit in a research report on Tuesday, December 18th. They issued an “overweight” rating and a $250.00 target price on the stock. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $237.00 price target on the stock in a research report on Monday, January 21st. Credit Suisse Group reaffirmed an “outperform” rating and set a $255.00 price target (up from $250.00) on shares of Intuit in a research report on Tuesday, January 22nd. Goldman Sachs Group reaffirmed a “neutral” rating and set a $212.00 price target on shares of Intuit in a research report on Friday, February 1st. Finally, Morgan Stanley raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $225.00 price target on the stock in a research report on Monday, February 4th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Intuit currently has an average rating of “Hold” and a consensus target price of $240.00.
ILLEGAL ACTIVITY WARNING: “Intuit Inc. (INTU) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA” was reported by Baseball Daily News and is the property of of Baseball Daily News. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/04/15/intuit-inc-intu-shares-sold-by-loring-wolcott-coolidge-fiduciary-advisors-llp-ma.html.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
Recommended Story: What is the Moving Average Convergence Divergence (MACD) oscillator?
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.