Intuit Inc. (NASDAQ:INTU) Shares Purchased by Center for Financial Planning Inc.

Center for Financial Planning Inc. increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 146.1% in the 4th quarter, HoldingsChannel reports. The firm owned 283 shares of the software maker’s stock after purchasing an additional 168 shares during the period. Center for Financial Planning Inc.’s holdings in Intuit were worth $178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. Creative Planning grew its stake in Intuit by 5.6% during the 3rd quarter. Creative Planning now owns 53,552 shares of the software maker’s stock worth $33,256,000 after purchasing an additional 2,836 shares in the last quarter. SeaCrest Wealth Management LLC boosted its position in shares of Intuit by 4.4% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 687 shares of the software maker’s stock worth $427,000 after acquiring an additional 29 shares in the last quarter. Good Life Advisors LLC acquired a new position in shares of Intuit during the 3rd quarter worth about $367,000. Global Retirement Partners LLC boosted its position in shares of Intuit by 3.3% during the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the software maker’s stock worth $1,118,000 after acquiring an additional 57 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in shares of Intuit by 3.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,713 shares of the software maker’s stock worth $2,927,000 after acquiring an additional 156 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INTU has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Up 0.6 %

INTU opened at $587.38 on Friday. The business has a 50 day moving average price of $621.39 and a two-hundred day moving average price of $630.35. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $164.42 billion, a PE ratio of 57.03, a P/E/G ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week 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, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the business earned $1.14 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders 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 0.71%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

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.