Center For Asset Management LLC Makes New $269,000 Investment in Intuit Inc. (NASDAQ:INTU)

Center For Asset Management LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 428 shares of the software maker’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the third quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit in the fourth quarter worth approximately $29,000. Denver PWM LLC bought a new position in shares of Intuit in the third quarter valued at approximately $32,000. Dunhill Financial LLC boosted its position in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in Intuit by 6,500.0% during the fourth quarter. AlphaMark Advisors LLC now owns 66 shares of the software maker’s stock worth $41,000 after buying an additional 65 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on INTU shares. Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $597.95 on Monday. The company’s fifty day moving average price is $636.69 and its 200-day moving average price is $635.00. 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 $167.38 billion, a price-to-earnings ratio of 58.05, a PEG ratio of 3.01 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly 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 business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

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.