434 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 434 shares of the software maker’s stock, valued at approximately $271,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. Parnassus Investments LLC grew its stake in shares of Intuit by 42,268.5% during the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after purchasing an additional 609,512 shares during the period. Wellington Management Group LLP grew its stake in shares of Intuit by 61.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after purchasing an additional 514,259 shares during the period. International Assets Investment Management LLC grew its stake in shares of Intuit by 60,534.9% during the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after purchasing an additional 472,172 shares during the period. FMR LLC grew its stake in shares of Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after purchasing an additional 266,803 shares during the period. Finally, AustralianSuper Pty Ltd grew its stake in shares of Intuit by 56.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock worth $315,669,000 after purchasing an additional 222,317 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 in the last three months. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INTU. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. Susquehanna lifted their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Mizuho lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Finally, Oppenheimer raised their price objective on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Trading Up 1.6 %

Shares of NASDAQ INTU traded up $10.16 during trading on Friday, hitting $636.55. 1,192,496 shares of the company were exchanged, compared to its average volume of 1,208,945. The firm has a market capitalization of $178.23 billion, a PE ratio of 64.95, a P/E/G ratio of 3.81 and a beta of 1.21. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a fifty day moving average price of $640.26 and a 200-day moving average price of $602.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. As a group, equities research analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

About Intuit

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.