Raymond James Financial Services Advisors Inc. Has $19.96 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Raymond James Financial Services Advisors Inc. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 7.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,937 shares of the software maker’s stock after buying an additional 2,257 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Intuit were worth $19,962,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Glenview Trust co lifted its stake in shares of Intuit by 1.9% during the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after buying an additional 19 shares during the last quarter. Verity Asset Management Inc. raised its stake in Intuit by 2.5% in the 3rd quarter. Verity Asset Management Inc. now owns 769 shares of the software maker’s stock worth $393,000 after purchasing an additional 19 shares in the last quarter. Steward Financial Group LLC raised its stake in Intuit by 50.0% in the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in Intuit by 0.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the software maker’s stock worth $1,145,000 after purchasing an additional 20 shares in the last quarter. Finally, Hamilton Point Investment Advisors LLC raised its stake in Intuit by 2.4% in the 3rd quarter. Hamilton Point Investment Advisors LLC now owns 862 shares of the software maker’s stock worth $440,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on INTU. Susquehanna boosted their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Oppenheimer upped their price objective on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Wells Fargo & Company boosted their target price on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Finally, KeyCorp boosted their target price on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 14,771 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $589.60, for a total value of $8,708,981.60. Following the transaction, the executive vice president now owns 50,030 shares in the company, valued at $29,497,688. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Laura A. Fennell sold 14,771 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $589.60, for a total value of $8,708,981.60. Following the transaction, the executive vice president now owns 50,030 shares in the company, valued at $29,497,688. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,260 shares of company stock worth $20,667,475. Insiders own 2.90% of the company’s stock.

Intuit Trading Up 0.2 %

Shares of Intuit stock opened at $650.00 on Friday. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a market cap of $182 billion, a price-to-earnings ratio of 66.33, a PEG ratio of 3.90 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $646.73 and its 200-day moving average price is $587.31.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. On average, equities analysts expect that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s dividend payout ratio is 36.73%.

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.