Fulton Bank N.A. Buys 367 Shares of Intuit Inc. (NASDAQ:INTU)

Fulton Bank N.A. lifted its stake in Intuit Inc. (NASDAQ:INTU) by 19.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,233 shares of the software maker’s stock after acquiring an additional 367 shares during the period. Fulton Bank N.A.’s holdings in Intuit were worth $1,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. Harvest Portfolios Group Inc. grew its stake in Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after buying an additional 1,853 shares during the last quarter. GAMMA Investing LLC raised its holdings in Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares during the period. Retireful LLC acquired a new position in Intuit during the 3rd quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intuit during the third quarter valued at about $56,144,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Piper Sandler dropped their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Oppenheimer increased their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Performance

Intuit stock opened at $626.05 on Thursday. The firm has a market capitalization of $175.24 billion, a P/E ratio of 60.78, a P/E/G ratio of 3.24 and a beta of 1.25. The stock has a fifty day moving average price of $649.24 and a two-hundred day moving average price of $638.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. As a group, analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.66%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity at Intuit

In other news, EVP Laura A. Fennell sold 7,700 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the sale, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. This represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,636 shares of company stock valued at $187,510,258 in the last three months. Corporate insiders own 2.68% of the company’s stock.

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.