Berkshire Asset Management LLC PA Buys New Position in Intuit Inc. (NASDAQ:INTU)

Berkshire Asset Management LLC PA purchased a new position in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 393 shares of the software maker’s stock, valued at approximately $235,000.

A number of other large investors have also modified their holdings of the business. R Squared Ltd acquired a new stake in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 0.5 %

Intuit stock opened at $609.61 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $170.42 billion, a PE ratio of 59.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a 50 day simple moving average of $602.28 and a 200-day simple moving average of $625.73. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is presently 38.81%.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,811 shares of company stock worth $142,391,012. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on INTU. Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets decreased their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a report on Wednesday, February 26th. 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. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $721.61.

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.