Heritage Investment Group Inc. Purchases Shares of 362 Intuit Inc. (NASDAQ:INTU)

Heritage Investment Group Inc. acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, Holdings Channel.com reports. The fund acquired 362 shares of the software maker’s stock, valued at approximately $226,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Intuit by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after buying an additional 117,478 shares in the last quarter. State Street Corp boosted its position in shares of Intuit by 1.9% during the 1st quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock valued at $4,948,558,000 after acquiring an additional 210,246 shares during the last quarter. FMR LLC grew 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 valued at $2,879,982,000 after purchasing an additional 266,803 shares in the last quarter. Morgan Stanley increased its position in 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 purchasing an additional 137,198 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Intuit by 5.2% during the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after purchasing an additional 160,229 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction 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 owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Lauren D. Hotz sold 745 shares of the business’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 completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were 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 of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Down 0.5 %

INTU traded down $3.21 during trading on Friday, hitting $605.17. 1,609,082 shares of the stock were exchanged, compared to its average volume of 1,128,744. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a 50 day simple moving average of $642.93 and a 200 day simple moving average of $599.70. The firm has a market cap of $169.45 billion, a price-to-earnings ratio of 61.75, a P/E/G ratio of 3.68 and a beta of 1.21. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01.

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

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. Intuit’s payout ratio is presently 36.73%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INTU. KeyCorp lifted their price objective on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Oppenheimer lifted their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. upped their price objective on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Evercore ISI lifted their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Susquehanna boosted their target price on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

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.