Princeton Global Asset Management LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Princeton Global Asset Management LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 2,588.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,006 shares of the software maker’s stock after purchasing an additional 3,857 shares during the period. Princeton Global Asset Management LLC’s holdings in Intuit were worth $2,517,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Intuit in the 4th quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new stake in Intuit during the third quarter valued at approximately $27,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the 4th quarter worth approximately $29,000. Finally, Denver PWM LLC bought a new position in shares of Intuit during the 3rd quarter valued at approximately $32,000. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ INTU opened at $601.51 on Monday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The business’s 50 day moving average price is $630.95 and its 200 day moving average price is $633.44. 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 firm has a market cap of $168.37 billion, a P/E ratio of 58.40, a P/E/G ratio of 2.96 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. On average, sell-side analysts expect 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 was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s payout ratio is 40.39%.

Insiders Place Their Bets

In related news, 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 value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.