Providence First Trust Co Acquires Shares of 175 Intuit Inc. (NASDAQ:INTU)

Providence First Trust Co bought a new position in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, HoldingsChannel.com reports. The fund bought 175 shares of the software maker’s stock, valued at approximately $110,000.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. R Squared Ltd bought a new position in Intuit in the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC purchased a new position in Intuit in the 4th quarter worth about $29,000. Finally, Denver PWM LLC bought a new position in Intuit during the 3rd quarter valued at about $32,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INTU. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Scotiabank cut their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday. Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Oppenheimer raised their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $717.88.

Insider Activity at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Up 2.2 %

Intuit stock opened at $613.84 on Friday. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The firm has a market capitalization of $171.82 billion, a price-to-earnings ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24. The firm has a 50 day moving average of $605.90 and a 200 day moving average of $627.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s payout ratio is 38.81%.

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.