Mechanics Bank Trust Department Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Mechanics Bank Trust Department increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 43.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 904 shares of the software maker’s stock after buying an additional 272 shares during the quarter. Mechanics Bank Trust Department’s holdings in Intuit were worth $568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of INTU. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the 3rd quarter worth $27,000. Denver PWM LLC purchased a new position in Intuit during the third quarter worth about $32,000. Dunhill Financial LLC boosted its holdings in Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after purchasing an additional 32 shares during the last quarter. Groupama Asset Managment grew its position in Intuit by 10.6% in the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after purchasing an additional 720 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in Intuit in the 2nd quarter valued at about $49,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Down 0.5 %

Shares of NASDAQ:INTU opened at $604.13 on Monday. The firm has a fifty day moving average price of $646.09 and a two-hundred day moving average price of $636.93. The company has a market cap of $169.11 billion, a price-to-earnings ratio of 58.65, a PEG ratio of 3.07 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. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

Insider Buying and Selling at Intuit

In related news, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at $12,286.92. The trade was a 99.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last three months. 2.68% of the stock is owned by insiders.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. Morgan Stanley raised their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Stifel Nicolaus reduced their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Oppenheimer increased their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

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.