JGP Wealth Management LLC Has $14.59 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

JGP Wealth Management LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,220 shares of the software maker's stock after purchasing an additional 477 shares during the period. Intuit comprises about 1.9% of JGP Wealth Management LLC's portfolio, making the stock its 13th largest holding. JGP Wealth Management LLC's holdings in Intuit were worth $14,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Intuit by 1.8% in 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 buying an additional 221,885 shares during the last quarter. Geode Capital Management LLC increased 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 worth $3,701,762,000 after acquiring an additional 80,463 shares during the last quarter. Fisher Asset Management LLC raised its stake in Intuit by 2.9% in 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 acquiring an additional 107,482 shares during the period. Legal & General Group Plc lifted its holdings in Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker's stock valued at $1,538,236,000 after purchasing an additional 23,995 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intuit by 4.0% during the third 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 worth $1,428,790,000 after purchasing an additional 87,517 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Alex G. Balazs sold 23,810 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares of the company's stock, valued at approximately $325,664.22. This trade 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 accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on INTU shares. Morgan Stanley increased their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an "equal weight" rating in a research report on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research report on Wednesday. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Finally, Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They issued a "sector perform" rating and a $700.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $726.53.

Intuit Price Performance

Intuit stock traded down $3.14 during midday trading on Friday, reaching $604.13. The company's stock had a trading volume of 2,830,783 shares, compared to its average volume of 1,733,225. The stock has a market cap of $169.11 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The business has a 50-day moving average price of $647.69 and a 200-day moving average price of $637.39.

Intuit (NASDAQ:INTU - Get Free Report) 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. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. On average, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit's dividend payout ratio is presently 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.