Alpha Family Trust Buys 415 Shares of Intuit Inc. $INTU

Key Points

• Alpha Family Trust increased its stake in Intuit Inc. by 33.2% during the first quarter, bringing its total holdings to 1,665 shares valued at approximately $1,022,000.
• Intuit reported a quarterly earnings per share (EPS) of $11.65, exceeding analyst expectations, with revenue reaching $7.75 billion, a 15.1% increase from the previous year.
• The company also declared a dividend of $1.04 per share, representing a 0.6% annualized dividend yield, with a payout ratio of 33.77%.

Alpha Family Trust increased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 33.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,665 shares of the software maker's stock after buying an additional 415 shares during the quarter. Alpha Family Trust's holdings in Intuit were worth $1,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Copia Wealth Management bought a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Olde Wealth Management LLC bought a new position in shares of Intuit during the 1st quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after buying an additional 68 shares during the period. Finally, Hughes Financial Services LLC bought a new position in shares of Intuit during the 1st quarter worth approximately $50,000. Institutional investors own 83.66% of the company's stock.

Intuit Stock Up 0.9%

Shares of Intuit stock opened at $716.74 on Monday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The business has a fifty day simple moving average of $763.75 and a 200 day simple moving average of $672.00. The stock has a market cap of $199.93 billion, a PE ratio of 58.18, a price-to-earnings-growth ratio of 2.76 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the firm earned $9.88 earnings per share. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. Research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.6%. Intuit's payout ratio is 33.77%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INTU. KeyCorp reaffirmed an "overweight" rating and set a $850.00 price target (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. JPMorgan Chase & Co. raised their price target on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price target on Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. Evercore ISI raised their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Finally, BMO Capital Markets raised their price target on Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $809.86.

Insider Buying and Selling at Intuit

In related news, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total transaction of $689,397.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the transaction, the executive vice president owned 19 shares in the company, valued at approximately $14,704.10. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 over the last quarter. 2.68% of the stock is owned by corporate 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.

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