Patrick M Sweeney & Associates Inc. Grows Stock Position in Intuit Inc. (NASDAQ:INTU)

Patrick M Sweeney & Associates Inc. increased its holdings in Intuit Inc. (NASDAQ:INTU) by 12.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 401 shares of the software maker’s stock after purchasing an additional 45 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in Intuit were worth $252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the 3rd quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit in the 4th quarter worth about $29,000. Denver PWM LLC purchased a new stake in shares of Intuit in the 3rd quarter worth about $32,000. Dunhill Financial LLC lifted its holdings in Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in Intuit by 6,500.0% in the 4th quarter. AlphaMark Advisors LLC now owns 66 shares of the software maker’s stock valued at $41,000 after purchasing an additional 65 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 in the last 90 days. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Finally, Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Up 1.4 %

NASDAQ INTU opened at $606.62 on Tuesday. The stock has a market cap of $169.80 billion, a PE ratio of 58.90, a P/E/G ratio of 3.01 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The business has a 50 day moving average price of $636.69 and a two-hundred day moving average price of $635.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. As a group, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

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.