Concord Asset Management LLC VA Increases Stake in Intuit Inc. (NASDAQ:INTU)

Concord Asset Management LLC VA grew its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 35.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,879 shares of the software maker's stock after buying an additional 496 shares during the period. Concord Asset Management LLC VA's holdings in Intuit were worth $1,181,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Intuit in the 4th quarter worth $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the third quarter worth approximately $27,000. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter valued at approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in Intuit in the fourth quarter worth approximately $29,000. Finally, Denver PWM LLC bought a new stake in Intuit in the 3rd quarter worth approximately $32,000. Institutional investors own 83.66% of the company's stock.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 23,810 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company's stock, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on INTU. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Royal Bank of Canada reissued an "outperform" rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group upped their target price on shares of Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $726.53.

Intuit Stock Performance

NASDAQ INTU opened at $601.51 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business has a 50 day simple moving average of $630.95 and a two-hundred day simple moving average of $633.66. The stock has a market capitalization of $168.37 billion, a PE ratio of 58.40, a P/E/G ratio of 2.92 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.14. The company 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%. Intuit's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. On average, research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit's payout ratio is 40.39%.

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.

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