Florida Financial Advisors LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

Florida Financial Advisors LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 363 shares of the software maker’s stock after buying an additional 32 shares during the period. Florida Financial Advisors LLC’s holdings in Intuit were worth $228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC grew its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit in the fourth quarter worth approximately $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Up 0.9 %

Shares of NASDAQ:INTU opened at $618.72 on Wednesday. The firm has a market cap of $172.97 billion, a PE ratio of 60.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a fifty day simple moving average of $595.97 and a 200 day simple moving average of $622.76. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,896 shares of company stock valued at $82,946,716. Insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on INTU. Citigroup dropped their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Finally, Scotiabank reduced their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.