Whittier Trust Co. Acquires 1,077 Shares of Intuit Inc. (NASDAQ:INTU)

Whittier Trust Co. grew its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,256 shares of the software maker's stock after acquiring an additional 1,077 shares during the quarter. Whittier Trust Co.'s holdings in Intuit were worth $24,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new stake in Intuit during the third quarter worth about $27,000. Crew Capital Management Ltd. grew its holdings in shares of Intuit by 9.6% during the 3rd quarter. Crew Capital Management Ltd. now owns 1,775 shares of the software maker's stock worth $1,102,000 after purchasing an additional 155 shares in the last quarter. Trilogy Capital Inc. lifted its position in Intuit by 26.5% in the third quarter. Trilogy Capital Inc. now owns 2,655 shares of the software maker's stock worth $1,649,000 after purchasing an additional 557 shares during the period. Vest Financial LLC boosted its stake in Intuit by 105.5% during the third quarter. Vest Financial LLC now owns 2,357 shares of the software maker's stock worth $1,464,000 after buying an additional 1,210 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC raised its stake in shares of Intuit by 21.9% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 6,618 shares of the software maker's stock valued at $4,110,000 after buying an additional 1,188 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INTU. JPMorgan Chase & Co. lifted their price objective on Intuit from $585.00 to $600.00 and gave the company a "neutral" rating in a report on Friday, August 23rd. Susquehanna reaffirmed a "positive" rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Barclays dropped their price objective on Intuit from $745.00 to $740.00 and set an "overweight" rating for the company in a research note on Friday, August 23rd. Piper Sandler restated an "overweight" rating and issued a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. Finally, Citigroup increased their target price on shares of Intuit from $727.00 to $750.00 and gave the stock a "buy" rating in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and a consensus price target of $735.71.

Insider Activity

In related news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares of the company's stock, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Sandeep Aujla sold 775 shares of the company's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company's stock, valued at $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company's stock, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last 90 days. Corporate insiders own 2.90% of the company's stock.

Intuit Trading Up 0.1 %

Shares of Intuit stock traded up $0.64 during trading on Monday, hitting $613.93. 990,769 shares of the company were exchanged, compared to its average volume of 1,323,828. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $171.62 billion, a P/E ratio of 56.64, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. The firm's fifty day moving average price is $630.13 and its 200 day moving average price is $627.52. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business's quarterly revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts expect that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from Intuit's previous quarterly dividend of $0.90. Intuit's dividend payout ratio (DPR) is currently 38.38%.

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.