Intuit Inc. (NASDAQ:INTU) Shares Acquired by Rockland Trust Co.

Rockland Trust Co. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,984 shares of the software maker's stock after acquiring an additional 1,661 shares during the quarter. Intuit accounts for 1.2% of Rockland Trust Co.'s holdings, making the stock its 29th largest position. Rockland Trust Co.'s holdings in Intuit were worth $23,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Intuit during the 4th quarter valued at about $2,290,419,000. GAMMA Investing LLC boosted its position in Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after buying an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after buying an additional 620,559 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Down 1.6%

NASDAQ:INTU traded down $12.23 on Friday, reaching $753.98. The company's stock had a trading volume of 1,148,047 shares, compared to its average volume of 1,609,672. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The stock has a 50 day moving average price of $660.65 and a 200 day moving average price of $629.50. The firm has a market cap of $210.32 billion, a price-to-earnings ratio of 73.20, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit's revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $9.88 EPS. On average, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors 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 annualized dividend and a yield of 0.55%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analysts Set New Price Targets

A number of research firms recently issued reports on INTU. Mizuho lifted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Wells Fargo & Company increased their price objective on shares of Intuit from $825.00 to $880.00 and gave the company an "overweight" rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. Finally, Bank of America lifted 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $787.95.

Insider Buying and Selling at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 62,816 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total value of $48,116,427.84. Following the transaction, the insider now directly owns 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,408 shares of company stock valued at $213,441,865 over the last quarter. 2.68% of the stock is owned by company insiders.

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.