Penobscot Investment Management Company Inc. Has $6.43 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Penobscot Investment Management Company Inc. grew its position in Intuit Inc. (NASDAQ:INTU) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,288 shares of the software maker’s stock after purchasing an additional 666 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Intuit were worth $6,430,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in INTU. NewSquare Capital LLC bought a new position in Intuit during the 3rd quarter worth $25,000. Cape Investment Advisory Inc. bought a new stake in Intuit in the 3rd quarter valued at about $26,000. MCF Advisors LLC grew its position in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Aspire Private Capital LLC increased its holdings in shares of Intuit by 144.4% during the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after purchasing an additional 39 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Intuit during the 4th quarter worth $38,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 1.2 %

Shares of NASDAQ INTU traded down $7.40 during mid-day trading on Tuesday, reaching $630.99. 269,533 shares of the company’s stock traded hands, compared to its average volume of 1,233,447. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The business has a 50-day simple moving average of $639.91 and a 200 day simple moving average of $604.28. The stock has a market cap of $176.68 billion, a P/E ratio of 64.87, a PEG ratio of 3.88 and a beta of 1.21. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01.

Intuit (NASDAQ:INTU) last released its quarterly 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 business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. KeyCorp increased their price objective on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Susquehanna boosted their target price on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Oppenheimer increased their target price on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company boosted their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $650.23.

Insider Buying and Selling

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

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.