Princeton Global Asset Management LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Princeton Global Asset Management LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2,588.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,006 shares of the software maker’s stock after acquiring an additional 3,857 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Intuit were worth $2,517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. R Squared Ltd purchased a new stake in Intuit during the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit in the third quarter worth $27,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at $28,000. Sugar Maple Asset Management LLC purchased a new position in Intuit in the fourth quarter valued at $29,000. Finally, Denver PWM LLC acquired a new position in Intuit during the 3rd quarter worth $32,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Down 0.5 %

NASDAQ:INTU opened at $601.51 on Monday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a fifty day moving average price of $630.95 and a two-hundred day moving average price of $633.44. The stock has a market capitalization of $168.37 billion, a price-to-earnings ratio of 58.40, a PEG ratio of 2.96 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on INTU shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Stifel Nicolaus dropped their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $726.53.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the transaction, the chief executive officer now directly owns 37,869 shares of the company’s stock, valued at approximately $23,701,828.41. This trade represents a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 in the last quarter. Company insiders own 2.68% 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.