Merit Financial Group LLC Purchases 1,400 Shares of Intuit Inc. (NASDAQ:INTU)

Merit Financial Group LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 53.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,999 shares of the software maker’s stock after purchasing an additional 1,400 shares during the quarter. Merit Financial Group LLC’s holdings in Intuit were worth $2,513,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Nordea Investment Management AB increased its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Harvest Portfolios Group Inc. increased its holdings in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after acquiring an additional 968 shares during the last quarter. Retireful LLC acquired a new position in shares of Intuit in the 3rd quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intuit during the 3rd quarter worth approximately $56,144,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Jefferies Financial Group upped their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Barclays lowered their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research 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 research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 0.5 %

INTU stock opened at $604.13 on Monday. The stock has a market cap of $169.11 billion, a price-to-earnings ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The company has a fifty day moving average price of $646.09 and a two-hundred day moving average price of $636.93. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the business earned $1.14 EPS. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. Equities 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. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s payout ratio is presently 40.39%.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by company insiders.

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.