Capital Investment Advisors LLC Acquires New Holdings in Intuit Inc. (INTU)
Capital Investment Advisors LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 868 shares of the software maker’s stock, valued at approximately $227,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CX Institutional increased its stake in Intuit by 85.5% in the first quarter. CX Institutional now owns 102 shares of the software maker’s stock valued at $27,000 after purchasing an additional 47 shares in the last quarter. Parsons Capital Management Inc. RI increased its position in shares of Intuit by 0.3% during the fourth quarter. Parsons Capital Management Inc. RI now owns 17,091 shares of the software maker’s stock worth $3,364,000 after acquiring an additional 48 shares in the last quarter. Rehmann Capital Advisory Group increased its position in shares of Intuit by 4.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,055 shares of the software maker’s stock worth $208,000 after acquiring an additional 48 shares in the last quarter. CWM LLC increased its position in shares of Intuit by 20.0% during the fourth quarter. CWM LLC now owns 336 shares of the software maker’s stock worth $66,000 after acquiring an additional 56 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Intuit by 16.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 394 shares of the software maker’s stock worth $77,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 87.69% of the company’s stock.
Shares of INTU stock opened at $260.88 on Tuesday. The firm has a market capitalization of $67.37 billion, a price-to-earnings ratio of 57.59, a PEG ratio of 3.02 and a beta of 1.19. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13. Intuit Inc. has a one year low of $172.74 and a one year high of $272.14.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Tuesday, April 9th. Intuit’s dividend payout ratio is currently 41.50%.
Several equities research analysts have recently issued reports on INTU shares. Morgan Stanley raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $225.00 price objective for the company in a research report on Monday, February 4th. BNP Paribas started coverage on shares of Intuit in a research report on Friday, March 29th. They set an “underperform” rating and a $200.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Intuit from $274.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Oppenheimer increased their price objective on shares of Intuit from $254.00 to $269.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 27th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and issued a $212.00 target price on shares of Intuit in a research report on Friday, February 1st. Four analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $240.00.
In other Intuit news, Director Dennis D. Powell sold 4,083 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $248.96, for a total value of $1,016,503.68. Following the completion of the sale, the director now owns 3,550 shares in the company, valued at $883,808. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 67,488 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $251.43, for a total transaction of $16,968,507.84. Following the completion of the sale, the executive vice president now owns 95,102 shares of the company’s stock, valued at approximately $23,911,495.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,609 shares of company stock valued at $22,757,853. Corporate insiders own 4.60% of the company’s stock.
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Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
Further Reading: Ex-Dividend
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