Relyea Zuckerberg Hanson LLC Acquires 61 Shares of Intuit Inc. (NASDAQ:INTU)

Relyea Zuckerberg Hanson LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 9.4% during the fourth quarter, HoldingsChannel reports. The firm owned 709 shares of the software maker’s stock after acquiring an additional 61 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Intuit were worth $446,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Avanza Fonder AB bought a new position in Intuit during the 4th quarter worth about $230,000. Cvfg LLC acquired a new position in shares of Intuit during the fourth quarter worth about $1,219,000. Bouvel Investment Partners LLC grew its holdings in shares of Intuit by 0.7% during the fourth quarter. Bouvel Investment Partners LLC now owns 9,746 shares of the software maker’s stock worth $6,125,000 after buying an additional 63 shares in the last quarter. Cohen Investment Advisors LLC lifted its stake in Intuit by 1.4% in the 4th quarter. Cohen Investment Advisors LLC now owns 5,869 shares of the software maker’s stock valued at $3,689,000 after acquiring an additional 79 shares in the last quarter. Finally, JGP Wealth Management LLC grew its stake in shares of Intuit by 2.1% during the 4th quarter. JGP Wealth Management LLC now owns 23,220 shares of the software maker’s stock worth $14,594,000 after acquiring an additional 477 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Morgan Stanley upped their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday. Finally, Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Transactions at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Shares of INTU stock traded down $1.63 during midday trading on Friday, hitting $605.64. 297,876 shares of the company were exchanged, compared to its average volume of 1,477,822. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The firm has a market capitalization of $169.53 billion, a P/E ratio of 58.93, a PEG ratio of 3.07 and a beta of 1.25. The firm’s 50 day moving average price is $649.03 and its two-hundred day moving average price is $637.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s payout ratio is 40.39%.

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.