Garden State Investment Advisory Services LLC Has $762,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Garden State Investment Advisory Services LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 55.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,227 shares of the software maker’s stock after buying an additional 436 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Intuit were worth $762,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC bought a new position in shares of Intuit in the 2nd quarter worth $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the third quarter worth $27,000. Finally, Denver PWM LLC bought a new stake in Intuit in the third quarter valued at about $32,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,732 shares of company stock worth $81,378,070 in the last 90 days. Insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Susquehanna restated a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus decreased their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Price Performance

Intuit stock traded down $10.53 during midday trading on Friday, reaching $661.72. The company’s stock had a trading volume of 139,641 shares, compared to its average volume of 1,361,467. The stock has a market cap of $185.23 billion, a PE ratio of 65.27, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The business has a 50-day moving average price of $639.04 and a 200-day moving average price of $631.28.

Intuit (NASDAQ:INTU) last released 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 net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company earned $1.14 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) 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.