Abacus FCF Advisors LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Abacus FCF Advisors LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,073 shares of the software maker's stock after purchasing an additional 352 shares during the period. Abacus FCF Advisors LLC's holdings in Intuit were worth $8,027,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Intuit by 19.9% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,435 shares of the software maker's stock worth $7,019,000 after acquiring an additional 1,900 shares during the last quarter. Crescent Sterling Ltd. increased its position in Intuit by 111.3% in the first quarter. Crescent Sterling Ltd. now owns 1,211 shares of the software maker's stock worth $744,000 after purchasing an additional 638 shares during the last quarter. GAMMA Investing LLC raised its stake in Intuit by 13.7% during the first quarter. GAMMA Investing LLC now owns 4,602 shares of the software maker's stock valued at $2,826,000 after purchasing an additional 554 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Intuit by 78.4% during the first quarter. Harbor Capital Advisors Inc. now owns 5,982 shares of the software maker's stock valued at $3,673,000 after purchasing an additional 2,629 shares during the last quarter. Finally, Regatta Capital Group LLC lifted its position in Intuit by 2.2% during the first quarter. Regatta Capital Group LLC now owns 1,619 shares of the software maker's stock valued at $994,000 after purchasing an additional 35 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Down 0.3%

NASDAQ INTU traded down $2.28 during midday trading on Tuesday, hitting $762.10. 1,422,369 shares of the company traded hands, compared to its average volume of 1,619,743. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The company's 50-day simple moving average is $649.11 and its 200-day simple moving average is $626.71. The company has a market cap of $212.59 billion, a PE ratio of 73.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. 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 - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the firm posted $9.88 earnings per share. The company's quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the transaction, the insider now directly owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,592 shares of company stock valued at $165,325,437. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

INTU has been the topic of several analyst reports. Citigroup reissued a "buy" rating and set a $789.00 target price (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. The Goldman Sachs Group raised their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Oppenheimer reissued an "outperform" rating and issued a $742.00 price objective (up from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, UBS Group set a $750.00 target price on Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and a consensus price target of $785.33.

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.