Essex Savings Bank Has $406,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Essex Savings Bank increased its stake in Intuit Inc. (NASDAQ:INTU) by 3.5% during the fourth quarter, HoldingsChannel reports. The firm owned 646 shares of the software maker’s stock after acquiring an additional 22 shares during the period. Essex Savings Bank’s holdings in Intuit were worth $406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. Northwest Investment Counselors LLC acquired a new position in shares of Intuit in the 3rd quarter valued at about $27,000. Denver PWM LLC bought a new position in shares of Intuit during the 3rd quarter worth about $32,000. Dunhill Financial LLC raised its position in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares during the last quarter. Groupama Asset Managment increased its stake in shares of Intuit by 10.6% in the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after acquiring an additional 720 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $621.45 on Thursday. The company’s 50 day moving average price is $649.57 and its two-hundred day moving average price is $637.71. The firm has a market capitalization of $173.96 billion, a P/E ratio of 60.33, a P/E/G ratio of 3.07 and a beta of 1.25. 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 Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the company earned $1.14 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on INTU shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

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.