Park Avenue Securities LLC Has $7.71 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Park Avenue Securities LLC increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 65.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,273 shares of the software maker's stock after buying an additional 4,873 shares during the quarter. Park Avenue Securities LLC's holdings in Intuit were worth $7,714,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of INTU. Northwest Investment Counselors LLC acquired a new position in Intuit during the 3rd quarter valued at approximately $27,000. Denver PWM LLC bought a new position in Intuit during the 3rd quarter valued at $32,000. Dunhill Financial LLC increased its position in shares of Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker's stock valued at $38,000 after purchasing an additional 32 shares during the period. Groupama Asset Managment lifted its holdings in shares of Intuit by 10.6% in the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker's stock valued at $47,000 after buying an additional 720 shares during the period. Finally, Kimelman & Baird LLC bought a new position in Intuit during the second quarter valued at about $49,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the company an "equal weight" rating in a research report on Friday, November 22nd. Jefferies Financial Group lifted their price target on Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, BNP Paribas lowered shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $726.53.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the business's stock in a transaction 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. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company's stock.

Intuit Stock Down 2.3 %

INTU traded down $14.16 during midday trading on Thursday, hitting $607.29. 2,832,772 shares of the company's stock traded hands, compared to its average volume of 1,623,347. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $169.99 billion, a PE ratio of 58.96, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The stock's fifty day simple moving average is $649.03 and its 200-day simple moving average is $637.60. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

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 for the quarter, beating analysts' consensus estimates of $2.36 by $0.14. The business 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 for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, January 10th. Intuit's dividend payout ratio is 40.39%.

Intuit Company 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.