United Asset Strategies Inc. Acquires 65 Shares of Intuit Inc. (NASDAQ:INTU)

United Asset Strategies Inc. boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,478 shares of the software maker’s stock after buying an additional 65 shares during the period. United Asset Strategies Inc.’s holdings in Intuit were worth $924,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Intuit by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after purchasing an additional 117,478 shares during the last quarter. State Street Corp increased its holdings in shares of Intuit by 1.9% in the first quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock worth $4,948,558,000 after buying an additional 210,246 shares during the period. FMR LLC increased its holdings in shares of Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after buying an additional 266,803 shares during the period. Morgan Stanley increased its holdings in shares of Intuit by 3.7% in the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after buying an additional 137,198 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Intuit by 5.2% in the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock worth $1,641,533,000 after buying an additional 160,229 shares during the period. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of several analyst reports. KeyCorp lifted their price objective on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price target on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Mizuho boosted their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Susquehanna boosted their price target on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company boosted their price target on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 745 shares of Intuit 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 disclosure for this sale can be found here. In the last quarter, insiders sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit Stock Down 0.1 %

INTU opened at $611.49 on Wednesday. The firm has a 50-day simple moving average of $645.48 and a two-hundred day simple moving average of $598.28. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a market capitalization of $171.22 billion, a PE ratio of 62.40, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

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 net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the firm earned $1.05 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

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.