New York Life Investment Management LLC Grows Position in Intuit Inc. (NASDAQ:INTU)

New York Life Investment Management LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,948 shares of the software maker’s stock after buying an additional 405 shares during the quarter. New York Life Investment Management LLC’s holdings in Intuit were worth $27,469,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. NewSquare Capital LLC purchased a new stake in Intuit during the third quarter valued at $25,000. DiNuzzo Private Wealth Inc. bought a new position in Intuit during the fourth quarter valued at $25,000. Cape Investment Advisory Inc. bought a new position in Intuit during the third quarter valued at $26,000. MCF Advisors LLC increased its position in Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Aspire Private Capital LLC increased its position in Intuit by 144.4% during the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. KeyCorp upped their price target on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. upped their price target on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Wells Fargo & Company upped their price target on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Finally, Barclays increased their target price on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

Intuit Stock Performance

Shares of Intuit stock traded down $10.42 during midday trading on Wednesday, hitting $615.20. The company had a trading volume of 1,199,146 shares, compared to its average volume of 1,245,629. The stock has a market cap of $172.26 billion, a price-to-earnings ratio of 62.83, a PEG ratio of 3.89 and a beta of 1.21. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $639.51 and a 200 day simple moving average of $604.93. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the firm posted $1.05 EPS. Intuit’s revenue was up 11.3% on a year-over-year basis. As a group, analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is presently 36.73%.

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.