Mechanics Bank Trust Department Sells 31 Shares of Intuit Inc. (NASDAQ:INTU)

Mechanics Bank Trust Department lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.4% in the first quarter, Holdings Channel reports. The firm owned 666 shares of the software maker’s stock after selling 31 shares during the period. Mechanics Bank Trust Department’s holdings in Intuit were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. increased its stake in shares of Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after buying an additional 16 shares during the period. JFS Wealth Advisors LLC increased its stake in shares of Intuit by 1.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after buying an additional 16 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after buying an additional 16 shares during the period. GAM Holding AG increased its stake in shares of Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after buying an additional 17 shares during the period. Finally, Janiczek Wealth Management LLC boosted 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 valued at $448,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 1.1 %

Shares of INTU stock opened at $630.47 on Wednesday. The firm has a market cap of $176.25 billion, a P/E ratio of 58.16, a price-to-earnings-growth ratio of 3.57 and a beta of 1.21. The business has a 50-day moving average price of $616.23 and a two-hundred day moving average price of $627.19. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a 12-month low of $444.19 and a 12-month high of $676.62.

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

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s dividend payout ratio is presently 33.21%.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the transaction, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the sale, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 27,309 shares of Intuit stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the sale, the insider now directly owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The disclosure for this sale can be found here. Insiders have sold a total of 193,937 shares of company stock worth $113,123,232 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on INTU shares. Wells Fargo & Company upped their target price on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Jefferies Financial Group restated a “buy” rating and set a $770.00 target price on shares of Intuit in a research report on Thursday, June 13th. KeyCorp upped their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Finally, Morgan Stanley increased their price target on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $679.41.

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.