Intuit Inc. (NASDAQ:INTU) Stock Position Raised by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 109.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 24,666 shares of the software maker’s stock after buying an additional 12,916 shares during the period. Douglas Lane & Associates LLC’s holdings in Intuit were worth $15,502,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the last quarter. Holocene Advisors LP raised its holdings in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the period. Ameriprise Financial Inc. grew its holdings in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Finally, State Street Corp increased its position in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 1.7 %

NASDAQ:INTU opened at $626.05 on Thursday. The stock has a market cap of $175.24 billion, a PE ratio of 60.78, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50-day moving average is $649.24 and its two-hundred day moving average is $638.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s payout ratio is 40.39%.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,636 shares of company stock worth $187,510,258. Insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on INTU. Oppenheimer boosted their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $737.44.

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.