Verde Capital Management Purchases 515 Shares of Intuit Inc. (NASDAQ:INTU)

Verde Capital Management grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 78.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,169 shares of the software maker’s stock after buying an additional 515 shares during the quarter. Verde Capital Management’s holdings in Intuit were worth $734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of INTU. Brown Financial Advisors increased its stake in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares during the period. Truvestments Capital LLC increased its position in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the period. Aviso Wealth Management raised its stake in Intuit by 4.9% in the second quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after purchasing an additional 17 shares in the last quarter. CVA Family Office LLC grew its stake in Intuit by 3.3% during the third quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after buying an additional 17 shares in the last quarter. Finally, Chris Bulman Inc increased its holdings in Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Down 2.2 %

NASDAQ:INTU opened at $598.30 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a market cap of $167.48 billion, a PE ratio of 58.09, a PEG ratio of 3.00 and a beta of 1.25. The firm has a 50-day moving average of $640.53 and a 200-day moving average of $635.79.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the company earned $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders 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 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio is currently 40.39%.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 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 trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent analyst reports. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group raised their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.