Carnegie Capital Asset Management LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Carnegie Capital Asset Management LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 689 shares of the software maker’s stock after acquiring an additional 76 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Intuit were worth $430,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new stake in Intuit in the fourth quarter valued at approximately $24,439,000. MV Capital Management Inc. raised its position in Intuit by 0.7% in the fourth quarter. MV Capital Management Inc. now owns 5,841 shares of the software maker’s stock valued at $3,651,000 after purchasing an additional 38 shares during the period. Crestwood Advisors Group LLC raised its position in Intuit by 2.3% in the fourth quarter. Crestwood Advisors Group LLC now owns 1,901 shares of the software maker’s stock valued at $1,188,000 after purchasing an additional 43 shares during the period. Simplicity Solutions LLC raised its position in Intuit by 9.0% in the fourth quarter. Simplicity Solutions LLC now owns 5,138 shares of the software maker’s stock valued at $3,212,000 after purchasing an additional 423 shares during the period. Finally, Graypoint LLC raised its position in Intuit by 18.8% in the fourth quarter. Graypoint LLC now owns 2,014 shares of the software maker’s stock valued at $1,259,000 after purchasing an additional 319 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Down 0.1 %

NASDAQ:INTU opened at $611.49 on Wednesday. The stock has a 50-day simple moving average of $645.48 and a 200-day simple moving average of $598.28. The stock has a market cap of $171.22 billion, a P/E ratio of 62.40, a P/E/G ratio of 3.73 and a beta of 1.21. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 EPS. As a group, analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Oppenheimer boosted their price objective on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Evercore ISI boosted their price objective on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. KeyCorp boosted their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Susquehanna boosted their price objective on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $645.00.

Insider Activity at Intuit

In related news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 in the last three months. 2.90% of the stock is currently owned by company insiders.

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.