Sand Hill Global Advisors LLC Increases Position in Intuit Inc. (NASDAQ:INTU)

Sand Hill Global Advisors LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 658.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,665 shares of the software maker's stock after buying an additional 6,655 shares during the period. Sand Hill Global Advisors LLC's holdings in Intuit were worth $4,817,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the fourth quarter valued at about $28,000. Finally, Summit Securities Group LLC bought a new position in shares of Intuit during the fourth quarter worth about $28,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Up 1.7 %

INTU traded up $9.57 during trading on Friday, hitting $587.04. 1,479,882 shares of the company's stock were exchanged, compared to its average volume of 1,568,333. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The stock has a market cap of $164.11 billion, a P/E ratio of 56.99, a PEG ratio of 2.85 and a beta of 1.25. The business's 50 day moving average is $591.70 and its two-hundred day moving average is $617.42. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit's dividend payout ratio is presently 38.81%.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares of the company's stock, valued at $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup decreased their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Jefferies Financial Group decreased their price objective on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Scotiabank dropped their target price on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. BMO Capital Markets decreased their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. One 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.com, Intuit has a consensus rating of "Moderate Buy" and an average price target 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.