Main Street Research LLC Invests $22.79 Million in Intuit Inc. (NASDAQ:INTU)

Main Street Research LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 36,467 shares of the software maker’s stock, valued at approximately $22,793,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marino Stram & Associates LLC acquired a new position in Intuit during the fourth quarter valued at $226,000. Suncoast Equity Management lifted its position in Intuit by 0.7% during the fourth quarter. Suncoast Equity Management now owns 73,707 shares of the software maker’s stock valued at $46,069,000 after purchasing an additional 528 shares during the period. United Asset Strategies Inc. lifted its position in Intuit by 4.6% during the fourth quarter. United Asset Strategies Inc. now owns 1,478 shares of the software maker’s stock valued at $924,000 after purchasing an additional 65 shares during the period. Members Trust Co acquired a new position in Intuit during the fourth quarter valued at $222,000. Finally, Capital Analysts LLC lifted its position in Intuit by 582.8% during the fourth quarter. Capital Analysts LLC now owns 198 shares of the software maker’s stock valued at $124,000 after purchasing an additional 169 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

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

Intuit Trading Up 0.5 %

NASDAQ:INTU traded up $2.89 on Tuesday, hitting $615.01. The stock had a trading volume of 488,374 shares, compared to its average volume of 1,241,015. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $172.20 billion, a price-to-earnings ratio of 62.54, a PEG ratio of 3.78 and a beta of 1.21. The company has a fifty day moving average price of $645.96 and a two-hundred day moving average price of $597.57. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. Equities research analysts expect that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. Intuit’s dividend payout ratio is currently 36.73%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INTU. Stifel Nicolaus boosted their target price on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. KeyCorp lifted their price objective on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Finally, Oppenheimer lifted their price objective on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

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.