Intuit Inc. (NASDAQ:INTU) Shares Acquired by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,255 shares of the software maker’s stock after purchasing an additional 28 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Intuit were worth $790,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $2,290,419,000. Proficio Capital Partners LLC lifted its holdings in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after acquiring an additional 1,062,847 shares during the period. Wellington Management Group LLP lifted its holdings in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after acquiring an additional 620,559 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Intuit during the 4th quarter worth $300,854,000. Finally, Vanguard Group Inc. grew its stake in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 0.1 %

Shares of NASDAQ INTU opened at $594.08 on Wednesday. The firm has a market cap of $166.08 billion, a P/E ratio of 57.68, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The firm’s 50 day moving average price is $591.89 and its 200 day moving average price is $617.08.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INTU. Jefferies Financial Group reduced their price objective on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $713.56.

Insider Activity

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 over the last quarter. Company insiders own 2.68% of the company’s stock.

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.