585 Shares in Intuit Inc. (NASDAQ:INTU) Bought by MFA Wealth Services

MFA Wealth Services acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 585 shares of the software maker’s stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. State Street Corp grew its holdings in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC lifted its stake in Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares during the last quarter. Legal & General Group Plc lifted its position in Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after buying an additional 23,995 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after buying an additional 87,517 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Performance

Shares of Intuit stock opened at $598.30 on Friday. The business has a fifty day simple moving average of $640.53 and a two-hundred day simple moving average of $635.79. The firm has a market capitalization of $167.48 billion, a P/E ratio of 58.09, a P/E/G ratio of 3.01 and a beta of 1.25. 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 $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Wall Street Analyst Weigh In

Several research analysts have commented on INTU shares. Morgan Stanley lifted their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

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.