Intuit Inc. (NASDAQ:INTU) Shares Acquired by Alley Investment Management Company LLC

Alley Investment Management Company LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,402 shares of the software maker’s stock after acquiring an additional 20 shares during the period. Intuit comprises approximately 1.5% of Alley Investment Management Company LLC’s holdings, making the stock its 28th largest holding. Alley Investment Management Company LLC’s holdings in Intuit were worth $12,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd bought a new position in Intuit during the 4th quarter worth $25,000. Heck Capital Advisors LLC bought a new position in Intuit during the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the 4th quarter worth $28,000. Sugar Maple Asset Management LLC bought a new position in Intuit during the 4th quarter worth $29,000. Finally, Denver PWM LLC bought a new position in Intuit during the 3rd quarter worth $32,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research note on Wednesday, February 26th. BMO Capital Markets lowered their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Citigroup decreased their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $720.50.

Intuit Trading Down 2.1 %

Shares of NASDAQ INTU opened at $601.09 on Tuesday. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a market cap of $168.04 billion, a price-to-earnings ratio of 58.36, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $605.15 and a 200-day simple moving average of $626.69.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued 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 dividend payout ratio is 38.81%.

Insider Activity

In related news, EVP Laura A. Fennell sold 7,700 shares of the stock in a transaction dated Tuesday, December 10th. The stock was 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 of the company’s stock, valued at approximately $22,304,518.24. This represents a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 224,460 shares of company stock valued at $144,750,747 over the last three months. Insiders own 2.68% of the company’s stock.

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.