Intuit Inc. (NASDAQ:INTU) Shares Purchased by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 55.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 700 shares of the software maker’s stock after acquiring an additional 250 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Intuit were worth $440,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in Intuit by 37.3% in the 2nd quarter. AQR Capital Management LLC now owns 50,487 shares of the software maker’s stock worth $32,954,000 after purchasing an additional 13,721 shares in the last quarter. Creative Planning increased its stake in Intuit by 0.6% in the 2nd quarter. Creative Planning now owns 50,716 shares of the software maker’s stock worth $33,331,000 after purchasing an additional 317 shares in the last quarter. NewEdge Advisors LLC increased its stake in Intuit by 19.5% in the 2nd quarter. NewEdge Advisors LLC now owns 21,979 shares of the software maker’s stock worth $14,445,000 after purchasing an additional 3,583 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Intuit by 7.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 17,343 shares of the software maker’s stock worth $11,396,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in Intuit in the 2nd quarter worth about $49,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Up 1.4 %

INTU opened at $606.62 on Tuesday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $169.80 billion, a price-to-earnings ratio of 58.90, a P/E/G ratio of 3.01 and a beta of 1.25. The business has a 50 day moving average of $636.69 and a 200-day moving average of $635.00.

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

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Insider Buying and Selling

In other Intuit 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 completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 over the last ninety days. 2.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on INTU shares. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lifted their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

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.