Gilliland Jeter Wealth Management LLC Buys New Position in Intuit Inc. (NASDAQ:INTU)

Gilliland Jeter Wealth Management LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 434 shares of the software maker’s stock, valued at approximately $271,000.

Several other hedge funds have also recently added to or reduced their stakes in INTU. OFI Invest Asset Management acquired a new position in Intuit in the 3rd quarter valued at approximately $51,000. V Square Quantitative Management LLC raised its holdings in Intuit by 18.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after acquiring an additional 482 shares in the last quarter. Compagnie Lombard Odier SCmA raised its holdings in Intuit by 27.5% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after acquiring an additional 1,900 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC acquired a new position in Intuit in the 4th quarter valued at approximately $1,292,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 1.6 %

INTU traded up $10.16 during mid-day trading on Friday, reaching $636.55. The stock had a trading volume of 1,192,496 shares, compared to its average volume of 1,208,945. The stock has a market capitalization of $178.23 billion, a P/E ratio of 64.95, a P/E/G ratio of 3.81 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s fifty day simple moving average is $640.26 and its two-hundred day simple moving average is $602.74. Intuit Inc. has a 52 week low of $400.22 and a 52 week 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 analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. On average, equities analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio is currently 36.73%.

Analyst Upgrades and Downgrades

Several research firms have commented on INTU. KeyCorp upped their price target on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Mizuho upped their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Susquehanna increased their target price on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Barclays increased their target price on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Evercore ISI increased their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Transactions at Intuit

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

Intuit Company Profile

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.