FineMark National Bank & Trust Acquires 186 Shares of Intuit Inc. (NASDAQ:INTU)

FineMark National Bank & Trust lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 14.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,492 shares of the software maker’s stock after purchasing an additional 186 shares during the quarter. FineMark National Bank & Trust’s holdings in Intuit were worth $981,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of INTU. Cultivar Capital Inc. bought a new position in Intuit in the second quarter valued at approximately $26,000. West Branch Capital LLC lifted its position in Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after acquiring an additional 19 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Intuit in the 2nd quarter valued at $35,000. Sachetta LLC acquired a new position in Intuit in the 4th quarter worth $39,000. Finally, J.Safra Asset Management Corp bought a new position in Intuit during the 2nd quarter worth about $39,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INTU. KeyCorp boosted their price target on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $716.35.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intuit news, insider Scott D. Cook sold 27,309 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the sale, the insider now owns 6,524,412 shares of the company’s stock, valued at approximately $3,870,020,221.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the transaction, the insider now directly owns 6,626,721 shares in the company, valued at $3,762,320,847.75. The disclosure for this sale can be found here. Insiders sold 116,308 shares of company stock worth $67,651,926 in the last ninety days. 2.90% of the stock is owned by company insiders.

Intuit Trading Down 0.3 %

Shares of Intuit stock opened at $621.48 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.50. The business has a fifty day simple moving average of $639.26 and a two-hundred day simple moving average of $632.71. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a market capitalization of $173.73 billion, a price-to-earnings ratio of 57.33, a P/E/G ratio of 3.08 and a beta of 1.23.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. Research analysts forecast that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

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.