Heritage Trust Co Invests $400,000 in Intuit Inc. (NASDAQ:INTU)

Heritage Trust Co purchased a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 636 shares of the software maker's stock, valued at approximately $400,000.

Several other institutional investors also recently bought and sold shares of the company. Texas Capital Bank Wealth Management Services Inc lifted its holdings in Intuit by 2.3% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 13,656 shares of the software maker's stock valued at $8,583,000 after acquiring an additional 306 shares during the period. First Foundation Advisors increased its holdings in Intuit by 7.8% in the fourth quarter. First Foundation Advisors now owns 8,385 shares of the software maker's stock valued at $5,270,000 after buying an additional 609 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Intuit by 1.1% during the 4th quarter. Treasurer of the State of North Carolina now owns 140,693 shares of the software maker's stock valued at $88,426,000 after acquiring an additional 1,514 shares during the period. Legacy Financial Advisors Inc. boosted its stake in shares of Intuit by 7.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,292 shares of the software maker's stock worth $812,000 after acquiring an additional 87 shares in the last quarter. Finally, Redwood Park Advisors LLC purchased a new position in Intuit in the 4th quarter valued at approximately $69,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Down 1.0 %

NASDAQ:INTU traded down $6.00 during trading hours on Wednesday, reaching $588.08. 1,984,936 shares of the company were exchanged, compared to its average volume of 1,569,078. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. The stock has a 50 day simple moving average of $591.89 and a 200 day simple moving average of $617.08. The firm has a market cap of $164.40 billion, a price-to-earnings ratio of 57.10, a PEG ratio of 2.85 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.

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Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insiders Place Their Bets

In related news, EVP Marianna Tessel sold 7,385 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the sale, the executive vice president now directly owns 40,190 shares in the company, valued at approximately $24,119,224.70. This represents a 15.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 over the last three months. 2.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Scotiabank lowered their price objective on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Oppenheimer dropped their price objective on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Citigroup cut their price objective on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. BNP Paribas cut Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. Finally, Morgan Stanley cut their price target on Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $713.00.

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.