Whittier Trust Co. Has $23.38 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Whittier Trust Co. reduced its position in Intuit Inc. (NASDAQ:INTU) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,202 shares of the software maker’s stock after selling 3,054 shares during the period. Whittier Trust Co.’s holdings in Intuit were worth $23,381,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. R Squared Ltd purchased a new position in Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the fourth quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit during the fourth quarter valued at $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,646 shares of company stock worth $72,494,045 in the last quarter. 2.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on INTU shares. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Jefferies Financial Group raised their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Citigroup dropped their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets cut their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays lowered their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Up 0.7 %

Shares of INTU stock opened at $603.11 on Thursday. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a market cap of $168.61 billion, a PE ratio of 58.55, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $596.98 and its two-hundred day moving average is $623.15.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s payout ratio is presently 38.81%.

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.