Intuit Inc. (NASDAQ:INTU) Shares Purchased by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 55.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,227 shares of the software maker’s stock after acquiring an additional 436 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Intuit were worth $762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Denver PWM LLC acquired a new stake in Intuit in the third quarter worth approximately $32,000. American Trust acquired a new stake in Intuit during the third quarter valued at approximately $1,126,000. Synovus Financial Corp boosted its stake in shares of Intuit by 3.2% during the 3rd quarter. Synovus Financial Corp now owns 7,495 shares of the software maker’s stock worth $4,654,000 after acquiring an additional 231 shares in the last quarter. Tidal Investments LLC raised its position in shares of Intuit by 47.5% during the third quarter. Tidal Investments LLC now owns 14,355 shares of the software maker’s stock worth $8,914,000 after purchasing an additional 4,620 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Intuit by 7.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 25,869 shares of the software maker’s stock valued at $16,065,000 after purchasing an additional 1,721 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INTU. Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Finally, Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Down 1.6 %

Shares of INTU traded down $10.53 during trading hours on Friday, hitting $661.72. 139,641 shares of the company were exchanged, compared to its average volume of 1,361,467. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s 50 day moving average is $639.04 and its 200-day moving average is $631.28. The company has a market cap of $185.23 billion, a PE ratio of 65.27, a PEG ratio of 3.31 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.63%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,732 shares of company stock valued at $81,378,070 in the last 90 days. 2.68% of the stock is currently owned by company insiders.

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.