Ledyard National Bank Has $353,000 Position in Intuit Inc. (NASDAQ:INTU)

Ledyard National Bank lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 12.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 569 shares of the software maker’s stock after purchasing an additional 63 shares during the quarter. Ledyard National Bank’s holdings in Intuit were worth $353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. LGT Financial Advisors LLC bought a new stake in Intuit in the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit in the 2nd quarter valued at approximately $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated 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 transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated 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 transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on INTU. Royal Bank of Canada began coverage on Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Jefferies Financial Group upped their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $735.71.

Intuit Trading Down 0.7 %

Shares of Intuit stock opened at $609.59 on Wednesday. The business has a fifty day simple moving average of $629.40 and a two-hundred day simple moving average of $627.34. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a market capitalization of $170.41 billion, a price-to-earnings ratio of 56.24, a P/E/G ratio of 3.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last announced its quarterly 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. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm posted $0.40 EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Research analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company 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. 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%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

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.