Independence Bank of Kentucky Grows Stock Position in Intuit Inc. (NASDAQ:INTU)

Independence Bank of Kentucky increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 14.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175 shares of the software maker’s stock after acquiring an additional 22 shares during the period. Independence Bank of Kentucky’s holdings in Intuit were worth $110,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit in the 3rd quarter valued at approximately $27,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the fourth quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit during the fourth quarter worth $29,000. Finally, Denver PWM LLC acquired a new stake in shares of Intuit in the third quarter valued at $32,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of Intuit stock opened at $601.51 on Monday. The firm’s fifty day simple moving average is $630.95 and its 200-day simple moving average is $633.44. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a market capitalization of $168.37 billion, a price-to-earnings ratio of 58.40, a PEG ratio of 2.92 and a beta of 1.25. 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 posted its quarterly earnings data 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business posted $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 over the last three months. 2.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. Morgan Stanley upped their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Stifel Nicolaus cut their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note 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. Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit 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.