Montag A & Associates Inc. Raises Position in Intuit Inc. (NASDAQ:INTU)

Montag A & Associates Inc. grew its position in Intuit Inc. (NASDAQ:INTUFree Report) by 35.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,683 shares of the software maker’s stock after purchasing an additional 4,875 shares during the quarter. Montag A & Associates Inc.’s holdings in Intuit were worth $9,546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marsico Capital Management LLC acquired a new stake in Intuit during the 3rd quarter worth $7,340,000. Cyrus J. Lawrence LLC raised its holdings in Intuit by 0.4% during the third quarter. Cyrus J. Lawrence LLC now owns 13,783 shares of the software maker’s stock worth $7,042,000 after purchasing an additional 60 shares in the last quarter. WBI Investments Inc. acquired a new stake in shares of Intuit during the third quarter valued at approximately $1,609,000. Kensington Investment Counsel LLC lifted its stake in Intuit by 2.4% in the third quarter. Kensington Investment Counsel LLC now owns 1,758 shares of the software maker’s stock valued at $898,000 after acquiring an additional 41 shares during the last quarter. Finally, Greenleaf Trust increased its holdings in shares of Intuit by 1.0% during the 3rd quarter. Greenleaf Trust now owns 9,902 shares of the software maker’s stock worth $5,059,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 82.63% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Intuit from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. BMO Capital Markets upped their target price on shares of Intuit from $605.00 to $640.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 29th. Wells Fargo & Company upped their target price on Intuit from $575.00 to $615.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 29th. Mizuho boosted their price target on shares of Intuit from $600.00 to $625.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Intuit from $410.00 to $470.00 and gave the stock a “neutral” rating in a research report on Monday, November 27th. Four analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $594.67.

Check Out Our Latest Stock Report on Intuit

Insider Activity at Intuit

In related news, CEO Sasan K. Goodarzi sold 93,641 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $569.02, for a total value of $53,283,601.82. Following the completion of the transaction, the chief executive officer now owns 65,324 shares of the company’s stock, valued at approximately $37,170,662.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sasan K. Goodarzi sold 93,641 shares of Intuit stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $569.02, for a total transaction of $53,283,601.82. Following the completion of the sale, the chief executive officer now directly owns 65,324 shares in the company, valued at $37,170,662.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Raul Vazquez sold 1,631 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $622.92, for a total transaction of $1,015,982.52. The disclosure for this sale can be found here. Insiders have sold a total of 124,815 shares of company stock worth $71,849,903 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Intuit Price Performance

INTU stock traded down $1.17 during trading on Monday, reaching $656.99. 1,122,805 shares of the company were exchanged, compared to its average volume of 1,115,379. Intuit Inc. has a twelve month low of $384.05 and a twelve month high of $662.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $183.89 billion, a price-to-earnings ratio of 71.93, a P/E/G ratio of 3.96 and a beta of 1.24. The company has a 50-day moving average of $615.68 and a two-hundred day moving average of $555.87.

Intuit (NASDAQ:INTUGet Free Report) last released its quarterly earnings data on Tuesday, November 28th. The software maker reported $2.47 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.49. Intuit had a net margin of 17.53% and a return on equity of 17.34%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. As a group, equities analysts predict that Intuit Inc. will post 11.26 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Tuesday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 39.34%.

Intuit Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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