Bay Colony Advisory Group Inc d b a Bay Colony Advisors Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 30.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 797 shares of the software maker’s stock after acquiring an additional 187 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Intuit were worth $498,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Intuit by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after acquiring an additional 117,478 shares during the last quarter. State Street Corp raised its holdings in Intuit by 1.9% during the 1st quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock valued at $4,948,558,000 after buying an additional 210,246 shares during the last quarter. FMR LLC raised its holdings in Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares during the last quarter. Morgan Stanley raised its holdings in Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after buying an additional 137,198 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Intuit by 5.2% during the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after buying an additional 160,229 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $612.12 on Tuesday. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The company’s 50-day moving average is $645.96 and its 200 day moving average is $597.57. The company has a market capitalization of $171.39 billion, a price-to-earnings ratio of 62.46, a price-to-earnings-growth ratio of 3.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

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

Intuit Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on INTU shares. Susquehanna upped their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. upped their price target 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 research report on Friday, February 23rd. Oppenheimer boosted their price objective on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Piper Sandler boosted their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.00.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were 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. In the last ninety days, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

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.