330 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by Lafayette Investments Inc.

Lafayette Investments Inc. bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 330 shares of the software maker’s stock, valued at approximately $206,000.

A number of other institutional investors have also made changes to their positions in INTU. Norges Bank acquired a new position in shares of Intuit during the 4th quarter worth approximately $1,173,468,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Intuit by 118,345.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock worth $812,767,000 after acquiring an additional 2,086,431 shares during the last quarter. Morgan Stanley increased its holdings in shares of Intuit by 42.5% during the 4th quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after acquiring an additional 1,027,752 shares during the last quarter. Parnassus Investments LLC grew its holdings in Intuit by 42,268.5% in the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after buying an additional 609,512 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Intuit by 61.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after buying an additional 514,259 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on INTU. JPMorgan Chase & Co. increased their price objective on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Mizuho increased their price objective on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Evercore ISI increased their price objective on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. KeyCorp increased their price objective on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Finally, Oppenheimer increased their price objective on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Insiders Place Their Bets

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by corporate insiders.

Intuit Price Performance

NASDAQ:INTU traded down $3.49 during trading hours on Friday, hitting $604.89. The company’s stock had a trading volume of 319,146 shares, compared to its average volume of 1,231,122. The stock has a fifty day simple moving average of $643.99 and a 200-day simple moving average of $598.45. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The company has a market capitalization of $169.37 billion, a P/E ratio of 61.81, a PEG ratio of 3.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

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

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.60%. Intuit’s payout ratio is currently 36.73%.

Intuit 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.