Ledyard National Bank Makes New $318,000 Investment in Intuit Inc. (NASDAQ:INTU)

Ledyard National Bank purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 508 shares of the software maker’s stock, valued at approximately $318,000.

Several other institutional investors have also recently made changes to their positions in the stock. Brookstone Capital Management grew its holdings in Intuit by 14.3% in the 3rd quarter. Brookstone Capital Management now owns 2,273 shares of the software maker’s stock valued at $1,185,000 after buying an additional 285 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Intuit by 28.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 58,605 shares of the software maker’s stock valued at $29,944,000 after acquiring an additional 13,013 shares during the period. RMR Wealth Builders lifted its position in shares of Intuit by 62.3% during the 3rd quarter. RMR Wealth Builders now owns 1,828 shares of the software maker’s stock valued at $934,000 after acquiring an additional 702 shares during the period. Suncoast Equity Management lifted its position in shares of Intuit by 1.8% during the 3rd quarter. Suncoast Equity Management now owns 73,179 shares of the software maker’s stock valued at $37,390,000 after acquiring an additional 1,286 shares during the period. Finally, Accurate Wealth Management LLC lifted its position in shares of Intuit by 67.2% during the 3rd quarter. Accurate Wealth Management LLC now owns 903 shares of the software maker’s stock valued at $487,000 after acquiring an additional 363 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU traded down $5.81 during trading hours on Tuesday, reaching $632.58. The stock had a trading volume of 221,243 shares, compared to its average volume of 1,232,905. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a 50 day simple moving average of $639.91 and a 200 day simple moving average of $604.28. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The stock has a market cap of $177.12 billion, a P/E ratio of 64.87, a price-to-earnings-growth ratio of 3.88 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the business posted $1.05 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, research analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. KeyCorp upped their target price on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Evercore ISI upped their price objective on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Mizuho upped their price objective on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Oppenheimer upped their price objective on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $650.23.

Insider Buying and Selling

In related news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 over the last ninety days. 2.90% of the stock is owned by corporate 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.