BRYN MAWR TRUST Co decreased its position in Intuit Inc. (NASDAQ:INTU) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,789 shares of the software maker’s stock after selling 1,773 shares during the quarter. BRYN MAWR TRUST Co’s holdings in Intuit were worth $10,381,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Intuit by 3.0% in the 4th quarter. BlackRock Inc. now owns 16,920,632 shares of the software maker’s stock worth $2,669,740,000 after acquiring an additional 486,554 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Intuit by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 3,020,966 shares of the software maker’s stock worth $475,804,000 after acquiring an additional 167,550 shares in the last quarter. APG Asset Management N.V. grew its position in shares of Intuit by 102.0% in the 4th quarter. APG Asset Management N.V. now owns 1,640,506 shares of the software maker’s stock worth $215,555,000 after acquiring an additional 828,387 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Intuit by 1.8% in the 4th quarter. Franklin Resources Inc. now owns 1,421,635 shares of the software maker’s stock worth $224,306,000 after acquiring an additional 25,601 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Intuit by 4.2% in the 3rd quarter. Legal & General Group Plc now owns 1,274,857 shares of the software maker’s stock worth $181,210,000 after acquiring an additional 51,879 shares in the last quarter. Institutional investors own 87.14% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) opened at $175.74 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $45,738.88, a price-to-earnings ratio of 48.28, a price-to-earnings-growth ratio of 2.72 and a beta of 1.15. Intuit Inc. has a 12 month low of $114.80 and a 12 month high of $179.30.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Intuit had a return on equity of 72.52% and a net margin of 17.48%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. equities research analysts expect that Intuit Inc. will post 4.28 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Tuesday, April 10th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, April 9th. Intuit’s payout ratio is currently 42.86%.
Several brokerages have recently commented on INTU. Credit Suisse Group lifted their target price on Intuit from $185.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, March 12th. Bank of America lifted their target price on Intuit from $172.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Barclays reiterated an “equal weight” rating and issued a $170.00 target price (up previously from $168.00) on shares of Intuit in a research report on Friday, February 23rd. Stifel Nicolaus lifted their target price on Intuit from $148.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Finally, UBS reiterated a “neutral” rating and issued a $177.00 target price (up previously from $170.00) on shares of Intuit in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $167.05.
In other Intuit news, Chairman Scott D. Cook sold 184,733 shares of Intuit stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $158.98, for a total transaction of $29,368,852.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Scott D. Cook sold 159,556 shares of Intuit stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $170.26, for a total value of $27,166,004.56. The disclosure for this sale can be found here. Insiders have sold a total of 1,036,700 shares of company stock worth $177,597,045 in the last ninety days. 5.59% of the stock is owned by company insiders.
COPYRIGHT VIOLATION NOTICE: “BRYN MAWR TRUST Co Decreases Stake in Intuit Inc. (INTU)” was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://www.thelincolnianonline.com/2018/03/20/bryn-mawr-trust-co-decreases-stake-in-intuit-inc-intu.html.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.