Fulton Bank N.A. Has $1.40 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Fulton Bank N.A. grew its holdings in Intuit Inc. (NASDAQ:INTU) by 19.7% during the 4th quarter, Holdings Channel reports. The firm owned 2,233 shares of the software maker’s stock after purchasing an additional 367 shares during the period. Fulton Bank N.A.’s holdings in Intuit were worth $1,403,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Spartan Planning & Wealth Management bought a new position in Intuit in the fourth quarter valued at approximately $358,000. Diversified Trust Co lifted its stake in shares of Intuit by 28.9% in the 4th quarter. Diversified Trust Co now owns 6,912 shares of the software maker’s stock valued at $4,344,000 after purchasing an additional 1,549 shares during the period. Nordea Investment Management AB boosted its position in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Intuit by 5.5% in the 4th quarter. GAMMA Investing LLC now owns 4,048 shares of the software maker’s stock worth $2,544,000 after purchasing an additional 210 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Intuit by 22.9% during the fourth quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock worth $185,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INTU. Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped 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. Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Trading Up 1.7 %

NASDAQ:INTU opened at $626.05 on Thursday. The company has a market cap of $175.24 billion, a P/E ratio of 60.78, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The business has a 50 day moving average price of $649.24 and a two-hundred day moving average price of $638.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Friday, January 10th. Intuit’s payout ratio is 40.39%.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,636 shares of company stock valued at $187,510,258. 2.68% of the stock is owned by insiders.

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.