Webster Bank N. A. Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Webster Bank N. A. boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 28.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104 shares of the software maker’s stock after purchasing an additional 23 shares during the period. Webster Bank N. A.’s holdings in Intuit were worth $68,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DiNuzzo Private Wealth Inc. purchased a new stake in Intuit in the fourth quarter worth $25,000. West Branch Capital LLC boosted its stake in shares of Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after purchasing an additional 19 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit during the fourth quarter valued at about $38,000. Finally, Sachetta LLC bought a new position in Intuit in the fourth quarter worth about $39,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

INTU stock traded up $4.08 on Friday, hitting $630.20. The company had a trading volume of 802,793 shares, compared to its average volume of 1,328,678. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The stock has a market cap of $176.17 billion, a price-to-earnings ratio of 58.14, a P/E/G ratio of 3.14 and a beta of 1.23. The stock’s 50-day simple moving average is $624.76 and its 200 day simple moving average is $633.72.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business posted $7.80 EPS. As a group, equities research analysts expect that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Stifel Nicolaus reduced their target price on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Susquehanna lowered their price target on shares of Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research report on Friday, May 24th. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $770.00 target price on shares of Intuit in a research note on Thursday, June 13th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $694.27.

Insider Transactions at Intuit

In other Intuit 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 completion of the sale, the chief financial officer now owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the sale, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction on Tuesday, May 28th. The shares were 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 disclosure for this sale can be found here. Insiders have sold 195,963 shares of company stock worth $114,442,445 in the last 90 days. 2.90% of the stock is currently owned by 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.