Ethos Financial Group LLC Grows Stock Position in Intuit Inc. (NASDAQ:INTU)

Ethos Financial Group LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 508 shares of the software maker’s stock after buying an additional 18 shares during the period. Ethos Financial Group LLC’s holdings in Intuit were worth $319,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of INTU. Raymond James Financial Inc. acquired a new stake in shares of Intuit during the 4th quarter valued at about $300,854,000. Promus Capital LLC acquired a new stake in shares of Intuit during the 4th quarter valued at about $89,000. Cullen Frost Bankers Inc. grew its position in shares of Intuit by 2.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 19,066 shares of the software maker’s stock valued at $11,983,000 after acquiring an additional 529 shares during the period. Arizona State Retirement System grew its position in shares of Intuit by 1.4% during the 4th quarter. Arizona State Retirement System now owns 81,223 shares of the software maker’s stock valued at $51,049,000 after acquiring an additional 1,114 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Intuit during the 4th quarter valued at about $2,958,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on INTU shares. BMO Capital Markets dropped their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Citigroup dropped their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Scotiabank lowered their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group lifted their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Down 1.8 %

INTU stock opened at $606.37 on Friday. The firm has a market cap of $169.52 billion, a PE ratio of 58.87, a PEG ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s 50 day moving average price is $602.86 and its 200-day moving average price is $626.10. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is presently 38.81%.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the sale, the executive vice president now directly owns 33,916 shares in the company, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,811 shares of company stock valued at $142,391,012. 2.68% of the stock is currently owned by company insiders.

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.