Fulton Bank N.A. Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Fulton Bank N.A. increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,866 shares of the software maker’s stock after buying an additional 47 shares during the period. Fulton Bank N.A.’s holdings in Intuit were worth $1,159,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after buying an additional 283,291 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock worth $1,946,954,000 after purchasing an additional 270,432 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after purchasing an additional 23,995 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,297 shares of company stock worth $32,750,926 over the last quarter. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada began coverage on shares of Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Finally, Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Price Performance

NASDAQ INTU opened at $602.43 on Tuesday. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The stock has a market cap of $168.41 billion, a price-to-earnings ratio of 55.57, a PEG ratio of 3.13 and a beta of 1.24. The company’s 50 day moving average is $632.84 and its two-hundred day moving average is $629.49. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the business earned $0.40 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. As a group, research analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

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.