TRU Independence Asset Management 2 LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 77 shares of the software maker’s stock, valued at approximately $29,000.
Several other hedge funds and other institutional investors have also bought and sold shares of INTU. Price T Rowe Associates Inc. MD grew its stake in shares of Intuit by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,561,386 shares of the software maker’s stock valued at $8,179,575,000 after buying an additional 557,239 shares in the last quarter. FMR LLC boosted its position in Intuit by 8.4% during the fourth quarter. FMR LLC now owns 6,773,875 shares of the software maker’s stock worth $2,573,057,000 after purchasing an additional 527,143 shares during the period. Brown Advisory Inc. boosted its position in Intuit by 4.6% during the fourth quarter. Brown Advisory Inc. now owns 3,504,005 shares of the software maker’s stock worth $1,330,997,000 after purchasing an additional 152,823 shares during the period. Bank of New York Mellon Corp boosted its position in Intuit by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 3,034,014 shares of the software maker’s stock worth $1,152,471,000 after purchasing an additional 41,999 shares during the period. Finally, Norges Bank bought a new position in Intuit during the fourth quarter worth $881,906,000. Institutional investors own 84.79% of the company’s stock.
A number of research firms recently commented on INTU. Morgan Stanley reaffirmed a “buy” rating and issued a $470.00 price target on shares of Intuit in a research note on Tuesday. Wells Fargo & Company boosted their target price on Intuit from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 2nd. Evercore ISI raised Intuit from an “in-line” rating to an “outperform” rating and set a $500.00 target price for the company in a research note on Monday, March 1st. Zacks Investment Research raised Intuit from a “strong sell” rating to a “hold” rating and set a $418.00 target price for the company in a research note on Monday, March 1st. Finally, Smith Barney Citigroup boosted their target price on Intuit from $378.00 to $383.00 in a research note on Tuesday, December 22nd. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $426.05.
Intuit stock opened at $401.05 on Thursday. The stock has a market capitalization of $109.82 billion, a price-to-earnings ratio of 53.83, a PEG ratio of 4.29 and a beta of 0.99. Intuit Inc. has a 52-week low of $240.38 and a 52-week high of $423.74. The stock’s 50 day moving average price is $391.35 and its two-hundred day moving average price is $365.48. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.09 and a current ratio of 3.09.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, February 23rd. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.55. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Intuit had a return on equity of 40.29% and a net margin of 25.10%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 EPS. On average, equities research analysts forecast that Intuit Inc. will post 5.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 19th. Shareholders of record on Monday, April 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Friday, April 9th. Intuit’s payout ratio is 35.98%.
In related news, CFO Michelle M. Clatterbuck sold 2,253 shares of the stock in a transaction on Tuesday, March 2nd. The stock was sold at an average price of $403.51, for a total value of $909,108.03. Following the completion of the sale, the chief financial officer now directly owns 4,293 shares of the company’s stock, valued at approximately $1,732,268.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Alexander Chriss sold 364 shares of the stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $407.38, for a total value of $148,286.32. Following the completion of the sale, the executive vice president now directly owns 221 shares of the company’s stock, valued at $90,030.98. The disclosure for this sale can be found here. 3.38% of the stock is owned by corporate insiders.
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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.
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