Intuit Inc. (NASDAQ:INTU) is Beacon Investment Advisors LLC’s 7th Largest Position

Beacon Investment Advisors LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,232 shares of the software maker’s stock after buying an additional 59 shares during the quarter. Intuit makes up about 2.4% of Beacon Investment Advisors LLC’s holdings, making the stock its 7th largest holding. Beacon Investment Advisors LLC’s holdings in Intuit were worth $5,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Intuit during the 4th quarter worth $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new position in Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter valued at about $28,000. Finally, Summit Securities Group LLC purchased a new stake in Intuit in the fourth quarter worth about $28,000. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the business’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 transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,696 shares of company stock worth $14,347,731. Insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INTU. Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $600.00 to $700.00 in a research report on Thursday. Citigroup decreased their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $718.56.

Intuit Stock Down 0.5 %

Shares of NASDAQ:INTU opened at $585.38 on Monday. The company has a market cap of $163.65 billion, a price-to-earnings ratio of 56.83, a PEG ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12 month low of $532.65 and a 12 month 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 50-day moving average price of $592.03 and a 200 day moving average price of $616.64.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, April 10th. Intuit’s payout ratio is 38.81%.

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.