Grimes & Company Inc. Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Grimes & Company Inc. lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 366 shares of the software maker’s stock after purchasing an additional 24 shares during the period. Grimes & Company Inc.’s holdings in Intuit were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of INTU. Northwest Investment Counselors LLC acquired a new position in shares of Intuit during the 3rd quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new stake in Intuit during the 4th quarter worth approximately $29,000. Denver PWM LLC acquired a new position in shares of Intuit during the third quarter valued at approximately $32,000. Dunhill Financial LLC lifted its position in shares of Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after acquiring an additional 32 shares in the last quarter. Finally, Groupama Asset Managment boosted its stake in shares of Intuit by 10.6% in the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after acquiring an additional 720 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $597.95 on Monday. The business’s fifty day moving average price is $636.69 and its 200 day moving average price is $634.99. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $167.38 billion, a PE ratio of 58.05, a P/E/G ratio of 3.01 and a beta of 1.25.

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

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the business’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 owns 37,869 shares of the company’s stock, valued at $23,701,828.41. This trade represents a 41.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on INTU. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Barclays decreased 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. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

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.