Intuit Inc. (NASDAQ:INTU) Shares Bought by Accelerate Investment Advisors LLC

Accelerate Investment Advisors LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645 shares of the software maker’s stock after purchasing an additional 21 shares during the quarter. Accelerate Investment Advisors LLC’s holdings in Intuit were worth $405,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of INTU. Cooper Financial Group raised its position in Intuit by 9.5% in the fourth quarter. Cooper Financial Group now owns 1,992 shares of the software maker’s stock valued at $1,252,000 after purchasing an additional 172 shares during the period. Wedmont Private Capital grew its stake in shares of Intuit by 4.2% in the fourth quarter. Wedmont Private Capital now owns 3,885 shares of the software maker’s stock worth $2,422,000 after acquiring an additional 156 shares in the last quarter. Kieckhefer Group LLC acquired a new position in shares of Intuit in the fourth quarter worth $69,000. Capital Investment Advisors LLC grew its stake in shares of Intuit by 3.5% in the fourth quarter. Capital Investment Advisors LLC now owns 2,162 shares of the software maker’s stock worth $1,359,000 after acquiring an additional 73 shares in the last quarter. Finally, Fiduciary Alliance LLC grew its stake in shares of Intuit by 30.0% in the fourth quarter. Fiduciary Alliance LLC now owns 541 shares of the software maker’s stock worth $340,000 after acquiring an additional 125 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. 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, Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 1,300 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total transaction of $814,346.00. Following the transaction, the chief financial officer now directly owns 644 shares in the company, valued at approximately $403,414.48. This represents a 66.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 291,936 shares of company stock valued at $188,324,604 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $8.02 on Monday, reaching $615.41. The company’s stock had a trading volume of 677,747 shares, compared to its average volume of 1,244,561. The stock’s 50-day moving average is $649.58 and its two-hundred day moving average is $638.21. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. 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 stock has a market capitalization of $172.26 billion, a P/E ratio of 59.75, a PEG ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio is currently 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.