Intuit Inc. (NASDAQ:INTU) Shares Purchased by LPL Financial LLC

LPL Financial LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 4.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 203,766 shares of the software maker’s stock after acquiring an additional 8,591 shares during the quarter. LPL Financial LLC’s holdings in Intuit were worth $127,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in INTU. Brown Financial Advisors increased its position in Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after acquiring an additional 15 shares during the period. Truvestments Capital LLC raised its stake in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares in the last quarter. True North Advisors LLC lifted its holdings in Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after purchasing an additional 17 shares during the period. Great Diamond Partners LLC grew its position in Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after buying an additional 17 shares in the last quarter. Finally, RB Capital Management LLC increased its stake in Intuit by 0.6% during the 3rd quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock valued at $1,968,000 after buying an additional 18 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,733 shares of company stock worth $77,947,205. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on INTU shares. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Scotiabank decreased their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Finally, Citigroup reduced their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Trading Up 1.5 %

Shares of NASDAQ INTU opened at $613.09 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The business has a 50-day moving average price of $596.08 and a two-hundred day moving average price of $622.74. The firm has a market capitalization of $171.40 billion, a PE ratio of 59.52, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. 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.