Okabena Investment Services Inc. Invests $1.17 Million in Intuit Inc. (NASDAQ:INTU)

Okabena Investment Services Inc. acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,865 shares of the software maker’s stock, valued at approximately $1,166,000.

A number of other institutional investors also recently added to or reduced their stakes in INTU. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $25,000. MCF Advisors LLC raised its position in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Intuit in the fourth quarter valued at $38,000. Sachetta LLC purchased a new stake in shares of Intuit during the 4th quarter worth $39,000. Finally, Webster Bank N. A. purchased a new stake in shares of Intuit during the 4th quarter worth $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on INTU shares. KeyCorp raised their price objective on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Barclays lifted their price target on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research note on Friday. JPMorgan Chase & Co. raised their price objective on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $770.00 target price on shares of Intuit in a research report on Thursday. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $679.41.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 14,748 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the completion of the transaction, the insider now directly owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The disclosure for this sale can be found here. Insiders sold 194,217 shares of company stock worth $113,301,418 in the last 90 days. 2.90% of the stock is owned by company insiders.

Intuit Stock Performance

Shares of INTU opened at $595.70 on Friday. Intuit Inc. has a 1 year low of $441.04 and a 1 year high of $676.62. The company’s 50 day simple moving average is $617.54 and its 200 day simple moving average is $624.16. The company has a market capitalization of $166.53 billion, a price-to-earnings ratio of 54.95, a PEG ratio of 3.40 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.80 EPS. On average, sell-side analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

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.