Castlekeep Investment Advisors LLC Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Castlekeep Investment Advisors LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,171 shares of the software maker's stock, valued at approximately $5,135,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. R Squared Ltd purchased a new stake in Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC lifted its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the fourth quarter worth $28,000. Finally, Summit Securities Group LLC purchased a new position in shares of Intuit during the fourth quarter worth $28,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Jefferies Financial Group cut their target price on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a report on Monday, March 31st. BMO Capital Markets lowered their price target on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Citigroup decreased their price objective on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Intuit has an average rating of "Moderate Buy" and a consensus target price of $717.53.

Insiders Place Their Bets

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. The trade was a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,696 shares of company stock valued at $14,347,731. Insiders own 2.68% of the company's stock.

Intuit Price Performance

INTU traded down $2.20 during trading on Friday, reaching $653.88. The company's stock had a trading volume of 1,158,757 shares, compared to its average volume of 1,594,645. The company has a market cap of $182.80 billion, a price-to-earnings ratio of 63.48, a PEG ratio of 2.85 and a beta of 1.24. The firm has a fifty day simple moving average of $602.37 and a two-hundred day simple moving average of $617.53. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. Intuit's payout ratio is 38.81%.

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.