Park Avenue Securities LLC Has $7.71 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Park Avenue Securities LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 65.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,273 shares of the software maker’s stock after purchasing an additional 4,873 shares during the period. Park Avenue Securities LLC’s holdings in Intuit were worth $7,714,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of INTU. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the third quarter valued at about $27,000. Denver PWM LLC acquired a new stake in Intuit during the 3rd quarter valued at approximately $32,000. Dunhill Financial LLC raised its holdings in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after purchasing an additional 32 shares during the last quarter. Groupama Asset Managment lifted its position in shares of Intuit by 10.6% in the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after purchasing an additional 720 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in shares of Intuit in the 2nd quarter valued at $49,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Down 0.4 %

Shares of NASDAQ:INTU opened at $621.45 on Thursday. The business’s 50 day moving average is $649.57 and its 200 day moving average is $637.71. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market cap of $173.95 billion, a price-to-earnings ratio of 60.33, a PEG ratio of 3.24 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted 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. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS. On average, sell-side analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analyst Ratings Changes

INTU has been the subject of a number of analyst reports. 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. Morgan Stanley boosted 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

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.