Choate Investment Advisors Buys 158 Shares of Intuit Inc. (NASDAQ:INTU)

Choate Investment Advisors lifted its position in Intuit Inc. (NASDAQ:INTU) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,580 shares of the software maker’s stock after purchasing an additional 158 shares during the quarter. Choate Investment Advisors’ holdings in Intuit were worth $1,622,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in INTU. Mizuho Securities USA LLC increased its holdings in shares of Intuit by 6.6% in the third quarter. Mizuho Securities USA LLC now owns 23,001 shares of the software maker’s stock worth $14,284,000 after purchasing an additional 1,414 shares during the last quarter. Schear Investment Advisers LLC increased its holdings in shares of Intuit by 6.1% in the third quarter. Schear Investment Advisers LLC now owns 1,766 shares of the software maker’s stock worth $1,097,000 after purchasing an additional 102 shares during the last quarter. Sather Financial Group Inc increased its stake in Intuit by 0.7% during the third quarter. Sather Financial Group Inc now owns 71,623 shares of the software maker’s stock worth $44,478,000 after acquiring an additional 508 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in Intuit during the third quarter worth approximately $396,000. Finally, Concord Asset Management LLC VA increased its stake in Intuit by 12.3% during the third quarter. Concord Asset Management LLC VA now owns 1,383 shares of the software maker’s stock worth $859,000 after acquiring an additional 151 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,301 shares of company stock worth $121,470,200. Company insiders own 2.68% of the company’s stock.

Intuit Stock Up 3.0 %

Shares of NASDAQ INTU opened at $598.80 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $167.40 billion, a price-to-earnings ratio of 58.14, a PEG ratio of 2.85 and a beta of 1.27. The stock has a 50 day moving average price of $598.23 and a 200 day moving average price of $623.66. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s payout ratio is 38.81%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on INTU shares. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Finally, BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

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.