Brighton Jones LLC Acquires 1,350 Shares of Intuit Inc. (NASDAQ:INTU)

Brighton Jones LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 61.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,552 shares of the software maker’s stock after buying an additional 1,350 shares during the quarter. Brighton Jones LLC’s holdings in Intuit were worth $2,233,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Intuit by 1.8% in the 3rd 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 boosted its holdings in shares of Intuit by 1.4% in the 3rd 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 in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of 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 purchasing an additional 23,995 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Intuit by 4.0% in the 3rd 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 purchasing an additional 87,517 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Down 0.1 %

Shares of NASDAQ:INTU opened at $597.95 on Friday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a market capitalization of $167.38 billion, a P/E ratio of 58.05, a P/E/G ratio of 3.01 and a beta of 1.25. The stock has a 50 day moving average price of $638.48 and a 200-day moving average price of $635.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $3.14 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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

Analysts Set New Price Targets

INTU has been the subject of a number of research reports. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday. Oppenheimer increased 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. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. JPMorgan Chase & Co. increased their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. One 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. According to MarketBeat.com, the stock currently has an average 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.