Fulton Bank N.A. Buys 199 Shares of Intuit Inc. (NASDAQ:INTU)

Fulton Bank N.A. increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 14.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,549 shares of the software maker’s stock after buying an additional 199 shares during the quarter. Fulton Bank N.A.’s holdings in Intuit were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. purchased a new position in Intuit during the 4th quarter worth $25,000. MCF Advisors LLC grew its stake in Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Intuit during the 4th quarter valued at about $38,000. Sachetta LLC purchased a new stake in Intuit during the 4th quarter valued at about $39,000. Finally, Webster Bank N. A. purchased a new stake in Intuit during the 4th quarter valued at about $41,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on INTU shares. Bank of America dropped their price target on Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. JPMorgan Chase & Co. boosted their price target on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Piper Sandler boosted their price target on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Finally, Barclays boosted their price target on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $679.41.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the completion of the sale, the insider now directly owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Scott D. Cook sold 14,748 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the completion of the transaction, the insider now directly owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 27,309 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the transaction, the insider now owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The disclosure for this sale can be found here. Insiders sold 193,937 shares of company stock valued at $113,123,232 over the last quarter. 2.90% of the stock is currently owned by insiders.

Intuit Price Performance

Shares of Intuit stock traded up $6.40 during mid-day trading on Thursday, reaching $616.08. 1,839,736 shares of the stock traded hands, compared to its average volume of 1,326,901. The business has a 50-day moving average of $615.39 and a 200 day moving average of $625.20. Intuit Inc. has a fifty-two week low of $442.74 and a fifty-two week high of $676.62. The stock has a market capitalization of $172.22 billion, a PE ratio of 56.83, a PEG ratio of 3.49 and a beta of 1.21. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the prior year, the firm earned $7.80 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. On average, analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.58%. Intuit’s payout ratio is currently 33.21%.

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.