Advisory Services Network LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Advisory Services Network LLC raised its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,284 shares of the software maker's stock after acquiring an additional 1,076 shares during the period. Advisory Services Network LLC's holdings in Intuit were worth $8,349,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Intuit during the fourth quarter worth $28,000. Heck Capital Advisors LLC purchased a new stake in Intuit in the fourth quarter valued at about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Trading Up 0.4 %

Shares of INTU stock traded up $2.63 on Monday, hitting $589.67. 279,765 shares of the stock traded hands, compared to its average volume of 1,916,122. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm's 50-day moving average price is $591.70 and its two-hundred day moving average price is $617.42. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. The stock has a market capitalization of $164.85 billion, a PE ratio of 57.25, a PEG ratio of 2.85 and a beta of 1.25.

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Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 0.71%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's payout ratio is presently 38.81%.

Insiders Place Their Bets

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. 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. 2.68% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on INTU shares. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. Jefferies Financial Group cut their price target on shares of Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a report on Monday, March 31st. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Scotiabank cut their price objective on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Finally, BMO Capital Markets decreased their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and an average target price of $713.56.

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.