329 Shares in Intuit Inc. (NASDAQ:INTU) Purchased by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 329 shares of the software maker’s stock, valued at approximately $207,000.

Other hedge funds also recently added to or reduced their stakes in the company. Segment Wealth Management LLC boosted its stake in shares of Intuit by 0.5% during the 4th quarter. Segment Wealth Management LLC now owns 30,944 shares of the software maker’s stock worth $19,448,000 after acquiring an additional 161 shares in the last quarter. Aspiriant LLC acquired a new position in Intuit during the fourth quarter worth $389,000. Sugar Maple Asset Management LLC purchased a new stake in Intuit during the fourth quarter worth $29,000. Pure Financial Advisors LLC acquired a new stake in Intuit in the fourth quarter valued at $204,000. Finally, Addenda Capital Inc. increased its position in shares of Intuit by 41.2% in the fourth quarter. Addenda Capital Inc. now owns 23,247 shares of the software maker’s stock valued at $14,611,000 after buying an additional 6,786 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Up 0.9 %

Shares of INTU opened at $609.41 on Wednesday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company’s fifty day moving average is $644.23 and its two-hundred day moving average is $636.37. The firm has a market cap of $170.59 billion, a PE ratio of 59.17, a price-to-earnings-growth ratio of 2.98 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 issued 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 firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The shares were 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 owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research reports. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. upped their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

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.