Jones Financial Companies Lllp Raises Position in Intuit Inc. (NASDAQ:INTU)

Jones Financial Companies Lllp grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 68.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,528 shares of the software maker’s stock after buying an additional 5,084 shares during the quarter. Jones Financial Companies Lllp’s holdings in Intuit were worth $7,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Intuit during the 4th quarter valued at $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the fourth quarter valued at $28,000. Sugar Maple Asset Management LLC bought a new stake in Intuit in the 4th quarter worth about $29,000. Finally, Denver PWM LLC purchased a new position in Intuit in the 3rd quarter worth about $32,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the sale, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 224,460 shares of company stock valued at $144,750,747 over the last 90 days. Company insiders own 2.68% of the company’s stock.

Intuit Stock Down 2.1 %

INTU opened at $601.09 on Tuesday. The stock has a market cap of $168.04 billion, a price-to-earnings ratio of 58.36, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. 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 fifty day moving average is $605.15 and its 200 day moving average is $626.69. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s payout ratio is 38.81%.

Wall Street Analyst Weigh In

INTU has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. BNP Paribas cut 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. Jefferies Financial Group boosted their target price 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. Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Scotiabank cut their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $720.50.

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.