Huntington National Bank Purchases 165 Shares of Intuit Inc. (NASDAQ:INTU)

Huntington National Bank boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% in the 3rd quarter, Holdings Channel reports. The firm owned 17,813 shares of the software maker’s stock after buying an additional 165 shares during the period. Huntington National Bank’s holdings in Intuit were worth $11,062,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of INTU. Bouvel Investment Partners LLC increased its position in Intuit by 0.5% during the 3rd quarter. Bouvel Investment Partners LLC now owns 9,683 shares of the software maker’s stock worth $6,013,000 after purchasing an additional 49 shares in the last quarter. ROI Financial Advisors LLC lifted its stake in shares of Intuit by 8.4% in the 3rd quarter. ROI Financial Advisors LLC now owns 2,699 shares of the software maker’s stock valued at $1,676,000 after acquiring an additional 208 shares during the last quarter. Plato Investment Management Ltd grew its position in Intuit by 6.9% during the 3rd quarter. Plato Investment Management Ltd now owns 9,757 shares of the software maker’s stock worth $6,053,000 after acquiring an additional 628 shares during the last quarter. ICICI Prudential Asset Management Co Ltd increased its holdings in Intuit by 18.9% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 3,649 shares of the software maker’s stock worth $2,266,000 after purchasing an additional 579 shares in the last quarter. Finally, Kovack Advisors Inc. raised its position in Intuit by 4.8% in the third quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock valued at $244,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Down 0.8 %

Intuit stock opened at $700.76 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $196.42 billion, a PE ratio of 67.06, a PEG ratio of 3.45 and a beta of 1.25. The firm’s fifty day moving average is $630.03 and its 200 day moving average is $629.21. Intuit Inc. has a 12-month low of $552.68 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (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 in the prior year, the firm earned $0.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.59%. Intuit’s payout ratio is currently 39.81%.

Insider Transactions at Intuit

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 over the last ninety days. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Barclays decreased their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Bank of America upped their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

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.