Intuit Inc. (NASDAQ:INTU) is Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s 3rd Largest Position

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 966,928 shares of the software maker’s stock after selling 13,020 shares during the period. Intuit accounts for about 6.1% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 3rd biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Intuit were worth $610,451,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. Parnassus Investments LLC increased its holdings in shares of Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after acquiring an additional 609,512 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Intuit by 61.5% during the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after acquiring an additional 514,259 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after acquiring an additional 472,172 shares in the last quarter. FMR LLC increased its holdings in shares of Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after acquiring an additional 266,803 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in shares of Intuit by 56.2% during the third quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock valued at $315,669,000 after acquiring an additional 222,317 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $4.60 during midday trading on Monday, reaching $609.77. 1,056,202 shares of the stock were exchanged, compared to its average volume of 1,246,259. The firm has a market cap of $170.74 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 3.68 and a beta of 1.21. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The firm has a 50-day simple moving average of $641.98 and a two-hundred day simple moving average of $600.94. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm posted $1.05 EPS. The business’s revenue was up 11.3% on a year-over-year basis. As a group, analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. Intuit’s dividend payout ratio (DPR) is 36.73%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INTU. BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday. Stifel Nicolaus increased their price target on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Finally, Susquehanna increased their price target on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 in the last quarter. Corporate insiders own 2.90% 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.