Sabal Trust CO Buys 821 Shares of Intuit Inc. (NASDAQ:INTU)

Sabal Trust CO boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 24.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,132 shares of the software maker’s stock after acquiring an additional 821 shares during the quarter. Sabal Trust CO’s holdings in Intuit were worth $2,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Intuit during the fourth quarter valued at approximately $2,290,419,000. GAMMA Investing LLC raised its holdings in Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock valued at $17,348,790,000 after buying an additional 2,821,534 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intuit by 33.5% during the 4th 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 buying an additional 771,232 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after acquiring an additional 620,559 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark P. Notarainni sold 469 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $13,775. This represents a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 271,158 shares of company stock valued at $202,989,194 over the last three months. Insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $785.00 price objective (up from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Stifel Nicolaus upped their target price on Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Barclays reaffirmed an “overweight” rating and issued a $815.00 price target (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Oppenheimer reissued an “outperform” rating and set a $742.00 price objective (up from $642.00) on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $787.95.

Intuit Trading Down 0.2%

NASDAQ:INTU opened at $757.86 on Thursday. The company’s 50 day moving average price is $692.96 and its 200-day moving average price is $636.84. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a market cap of $211.41 billion, a price-to-earnings ratio of 61.51, a PEG ratio of 3.38 and a beta of 1.28.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (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 analysts’ expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $9.88 EPS. On average, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit’s dividend payout ratio is presently 33.77%.

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.