Burke & Herbert Bank & Trust Co. Acquires 401 Shares of Intuit Inc. (NASDAQ:INTU)

Burke & Herbert Bank & Trust Co. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 45.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,291 shares of the software maker’s stock after purchasing an additional 401 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in Intuit were worth $848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after buying an additional 283,291 shares in the last quarter. Wellington Management Group LLP grew its position in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Brown Advisory Inc. increased its stake in Intuit by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock valued at $2,217,681,000 after acquiring an additional 80,517 shares during the last quarter. Norges Bank purchased a new stake in Intuit during the fourth quarter valued at about $2,101,848,000. Finally, Fisher Asset Management LLC lifted its stake in Intuit by 9.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock worth $1,946,954,000 after purchasing an additional 270,432 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,963 shares of company stock valued at $114,442,445. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on INTU. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Susquehanna decreased their price target on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $750.00 to $685.00 in a research note on Wednesday. Bank of America decreased their target price on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, UBS Group upped their price target on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $691.77.

Intuit Stock Performance

NASDAQ:INTU opened at $645.83 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $627.44 and its 200 day simple moving average is $633.63. The stock has a market cap of $180.54 billion, a P/E ratio of 59.58, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same period last year, the company posted $7.80 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research 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 was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.90 per share. The ex-dividend date was Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.56%. Intuit’s dividend payout ratio (DPR) is 33.21%.

Intuit Company 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.