Kovack Advisors Inc. Buys 50 Shares of Intuit Inc. (NASDAQ:INTU)

Kovack Advisors Inc. grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 443 shares of the software maker’s stock after buying an additional 50 shares during the period. Kovack Advisors Inc.’s holdings in Intuit were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. State Street Corp lifted its holdings in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after purchasing an additional 80,463 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Intuit by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock valued at $1,499,744,000 after purchasing an additional 88,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after purchasing an additional 87,517 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 2.2 %

NASDAQ:INTU opened at $613.84 on Friday. The firm has a market capitalization of $171.82 billion, a price-to-earnings ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The stock’s 50 day moving average price is $605.90 and its two-hundred day moving average price is $627.12. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Citigroup cut their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Finally, Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $717.88.

Insiders Place Their Bets

In related news, 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 transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,014 shares of company stock valued at $140,855,687 in the last 90 days. 2.68% of the stock is currently owned by insiders.

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.