Legacy Financial Advisors Inc. Buys 87 Shares of Intuit Inc. (NASDAQ:INTU)

Legacy Financial Advisors Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,005 shares of the software maker’s stock after purchasing an additional 87 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Intuit were worth $628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. DiNuzzo Private Wealth Inc. acquired a new stake in Intuit during the 4th quarter worth $25,000. MCF Advisors LLC grew its stake in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. NewSquare Capital LLC bought a new stake in Intuit in the third quarter valued at about $25,000. Cape Investment Advisory Inc. acquired a new position in Intuit in the third quarter valued at about $26,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Intuit in the fourth quarter valued at about $38,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of NASDAQ INTU traded up $15.23 during trading hours on Friday, hitting $629.27. 1,109,512 shares of the stock were exchanged, compared to its average volume of 1,209,705. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01. The company has a market cap of $176.20 billion, a PE ratio of 64.21, a price-to-earnings-growth ratio of 3.74 and a beta of 1.22. 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 company’s fifty day simple moving average is $637.56 and its two-hundred day simple moving average is $605.68.

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

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s payout ratio is currently 36.73%.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is available at this hyperlink. In other news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction 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 transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on INTU. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Mizuho boosted their price objective on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Tuesday. Oppenheimer lifted their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Evercore ISI increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

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.