Family Legacy Inc. Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Family Legacy Inc. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,460 shares of the software maker’s stock after purchasing an additional 80 shares during the period. Family Legacy Inc.’s holdings in Intuit were worth $1,540,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cannell & Spears LLC raised its holdings in Intuit by 6.0% in the 4th quarter. Cannell & Spears LLC now owns 4,246 shares of the software maker’s stock valued at $2,669,000 after buying an additional 239 shares during the period. AIA Group Ltd acquired a new position in Intuit during the fourth quarter worth $845,000. Wellington Management Group LLP boosted its position in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after buying an additional 620,559 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Intuit by 3.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 33,110 shares of the software maker’s stock valued at $20,810,000 after purchasing an additional 1,000 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of Intuit by 14.0% in the fourth quarter. Clearbridge Investments LLC now owns 1,107,767 shares of the software maker’s stock valued at $696,232,000 after acquiring an additional 136,252 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of several analyst reports. Scotiabank lowered their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. BMO Capital Markets decreased their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Down 2.7 %

INTU stock opened at $598.92 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $167.44 billion, a P/E ratio of 58.15, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The company’s 50 day simple moving average is $595.90 and its 200-day simple moving average is $622.23.

Intuit Dividend Announcement

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

Insider Buying and Selling at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,896 shares of company stock valued at $82,946,716 in the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

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.