Bridgewater Advisors Inc. Takes $1.01 Million Position in Intuit Inc. (NASDAQ:INTU)

Bridgewater Advisors Inc. bought a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,616 shares of the software maker's stock, valued at approximately $1,007,000.

Other large investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Intuit in the 4th quarter worth about $2,290,419,000. GAMMA Investing LLC grew its stake in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after purchasing an additional 771,232 shares in the last quarter. Wellington Management Group LLP grew its stake in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Finally, Unisphere Establishment grew its stake in Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after purchasing an additional 500,000 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. Susquehanna restated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. Stifel Nicolaus lifted their price target on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $800.55.

Intuit Stock Performance

Intuit stock traded down $6.80 during trading hours on Tuesday, hitting $745.95. The company had a trading volume of 1,452,397 shares, compared to its average volume of 1,623,198. The firm has a market cap of $208.08 billion, a PE ratio of 60.55, a PEG ratio of 3.34 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The firm has a 50-day moving average of $735.45 and a 200 day moving average of $647.51.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the firm earned $9.88 EPS. The business's revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.56%. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Insider Activity at Intuit

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares of the company's stock, valued at $31,017,164.28. This represents a 45.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the transaction, the insider owned 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 in the last three months. Insiders own 2.68% of the company's stock.

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.