Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $557 Million Stake in Intuit Inc. (NASDAQ:INTU)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 934,488 shares of the software maker's stock after purchasing an additional 2,860 shares during the quarter. Intuit comprises 5.3% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's portfolio, making the stock its 4th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.33% of Intuit worth $557,002,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Park Place Capital Corp increased its holdings in shares of Intuit by 7.1% in the 1st quarter. Park Place Capital Corp now owns 332 shares of the software maker's stock worth $204,000 after acquiring an additional 22 shares during the period. Diversified Trust Co boosted its stake in Intuit by 5.3% during the 1st quarter. Diversified Trust Co now owns 7,276 shares of the software maker's stock valued at $4,467,000 after purchasing an additional 364 shares during the period. Tanager Wealth Management LLP grew its position in Intuit by 7.7% in the 1st quarter. Tanager Wealth Management LLP now owns 463 shares of the software maker's stock worth $284,000 after purchasing an additional 33 shares during the last quarter. CNB Bank grew its position in Intuit by 3.4% in the 1st quarter. CNB Bank now owns 1,805 shares of the software maker's stock worth $1,108,000 after purchasing an additional 59 shares during the last quarter. Finally, PDS Planning Inc increased its stake in shares of Intuit by 10.5% in the first quarter. PDS Planning Inc now owns 1,365 shares of the software maker's stock valued at $838,000 after purchasing an additional 130 shares during the period. Institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president now directly owns 23,101 shares in the company, valued at $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,158 shares of company stock valued at $202,989,194 over the last quarter. Company insiders own 2.68% of the company's stock.

Intuit Stock Up 2.0%

Shares of Intuit stock opened at $772.86 on Friday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $774.80. The firm has a market capitalization of $215.59 billion, a PE ratio of 62.73, a price-to-earnings-growth ratio of 3.37 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock's fifty day moving average is $696.71 and its 200-day moving average is $637.71.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the company earned $9.88 EPS. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. Equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. Intuit's payout ratio is currently 33.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on INTU shares. Bank of America increased their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Evercore ISI raised their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. Piper Sandler reiterated an "overweight" rating and issued a $825.00 target price (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Barclays reissued an "overweight" rating and set a $815.00 target price (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $793.05.

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.

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