Trek Financial LLC Acquires 527 Shares of Intuit Inc. (NASDAQ:INTU)

Trek Financial LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 64.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,342 shares of the software maker's stock after purchasing an additional 527 shares during the quarter. Trek Financial LLC's holdings in Intuit were worth $843,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. bought a new stake in shares of Intuit in the fourth quarter valued at approximately $621,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after acquiring an additional 3,648 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in Intuit by 3.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock worth $27,223,000 after acquiring an additional 1,602 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock valued at $15,502,000 after purchasing an additional 12,916 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction 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 directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company's stock, valued at $4,800. This represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock valued at $14,347,731 over the last 90 days. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on INTU shares. Morgan Stanley upgraded shares of Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price objective on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and upped their price target for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Oppenheimer decreased their price objective on Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a report on Friday. Mizuho upped their target price on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Finally, Scotiabank decreased their price target 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. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $713.56.

Intuit Price Performance

Shares of Intuit stock traded up $9.57 during midday trading on Friday, reaching $587.04. The company had a trading volume of 1,479,882 shares, compared to its average volume of 1,567,880. The stock has a fifty day simple moving average of $591.70 and a 200 day simple moving average of $617.55. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $164.11 billion, a price-to-earnings ratio of 56.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit's payout ratio is currently 38.81%.

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.