Grunden Financial Advisory Inc. Purchases New Position in Intuit Inc. (NASDAQ:INTU)

Grunden Financial Advisory Inc. purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 494 shares of the software maker’s stock, valued at approximately $309,000. Intuit comprises about 0.2% of Grunden Financial Advisory Inc.’s investment portfolio, making the stock its 17th largest position.

Several other institutional investors have also recently added to or reduced their stakes in INTU. Fidelis Capital Partners LLC increased its position in Intuit by 12.8% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,611 shares of the software maker’s stock valued at $1,007,000 after acquiring an additional 183 shares in the last quarter. Western Wealth Management LLC increased its position in Intuit by 39.4% in the 4th quarter. Western Wealth Management LLC now owns 548 shares of the software maker’s stock valued at $343,000 after acquiring an additional 155 shares in the last quarter. Family Capital Management Inc. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $239,000. Ninety One SA PTY Ltd grew its position in shares of Intuit by 8.6% during the 4th quarter. Ninety One SA PTY Ltd now owns 8,671 shares of the software maker’s stock worth $5,420,000 after buying an additional 689 shares during the period. Finally, Tilt Investment Management Holdings PBC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $707,000. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 in the last quarter. 2.90% of the stock is owned by insiders.

Intuit Price Performance

INTU traded down $4.83 on Thursday, hitting $608.38. 790,870 shares of the stock were exchanged, compared to its average volume of 1,243,946. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The business has a 50-day moving average of $644.88 and a two-hundred day moving average of $598.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $170.35 billion, a price-to-earnings ratio of 62.04, a PEG ratio of 3.72 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business earned $1.05 EPS. Sell-side analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Wall Street Analysts Forecast Growth

INTU has been the subject of several analyst reports. Stifel Nicolaus lifted their price target on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Mizuho boosted their price objective on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Wells Fargo & Company boosted their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Finally, Susquehanna boosted their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

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.