Elgethun Capital Management Has $365,000 Stake in Intuit Inc. (NASDAQ:INTU)

Elgethun Capital Management boosted its position in Intuit Inc. (NASDAQ:INTU) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 581 shares of the software maker’s stock after buying an additional 75 shares during the period. Elgethun Capital Management’s holdings in Intuit were worth $365,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Intuit in the 4th quarter valued at $2,290,419,000. Proficio Capital Partners LLC increased its holdings in Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Intuit in the fourth quarter valued at approximately $300,854,000. Finally, Vanguard Group Inc. increased its position in shares of Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after acquiring an additional 353,185 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on INTU shares. Citigroup cut their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Mizuho increased their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $718.00.

Intuit Price Performance

Shares of NASDAQ INTU opened at $561.53 on Monday. The stock’s 50-day simple moving average is $595.64 and its two-hundred day simple moving average is $620.70. Intuit Inc. has a twelve month low of $533.55 and a twelve month high of $714.78. The firm has a market capitalization of $156.98 billion, a P/E ratio of 54.52, a P/E/G ratio of 2.85 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 1,300 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the transaction, the chief financial officer now directly owns 644 shares in the company, valued at approximately $403,414.48. This represents a 66.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,862 shares of company stock worth $18,767,673 over the last three months. 2.68% of the stock is owned by insiders.

Intuit Company 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.