Trust Co. of Vermont Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Trust Co. of Vermont grew its holdings in Intuit Inc. (NASDAQ:INTU) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,985 shares of the software maker’s stock after purchasing an additional 64 shares during the quarter. Trust Co. of Vermont’s holdings in Intuit were worth $16,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. Norges Bank purchased a new position in shares of Intuit in the fourth quarter valued at approximately $2,290,419,000. GAMMA Investing LLC raised its holdings in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock valued at $17,348,790,000 after acquiring an additional 2,821,534 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after acquiring an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after acquiring an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 2.0%

Shares of INTU opened at $772.86 on Friday. The firm’s 50-day moving average is $696.71 and its two-hundred day moving average is $637.71. The firm has a market capitalization of $215.59 billion, a P/E ratio of 62.73, a PEG ratio of 3.37 and a beta of 1.28. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $774.80. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $9.88 earnings per share. On average, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is 33.77%.

Analyst Ratings Changes

INTU has been the topic of several analyst reports. Barclays reaffirmed an “overweight” rating and issued a $815.00 target price (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. CLSA initiated coverage on shares of Intuit in a report on Thursday. They issued an “outperform” rating and a $900.00 target price on the stock. KeyCorp reissued an “overweight” rating and set a $850.00 price objective (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. The Goldman Sachs Group raised their price objective on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Finally, Evercore ISI raised their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $793.05.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the transaction, the chief financial officer now owns 197 shares of the company’s stock, valued at $143,047.61. This trade represents a 98.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 271,158 shares of company stock valued at $202,989,194. Company insiders own 2.68% of the company’s stock.

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.