Intuit Inc. (NASDAQ:INTU) Position Increased by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its stake in Intuit Inc. by 210.8%, owning 10,911 shares valued at approximately $6.7 million following an additional purchase of 7,400 shares.
• Intuit's first quarter earnings exceeded analysts’ expectations, reporting $11.65 per share and $7.75 billion in revenue, up 15.1% year-over-year.
• Several hedge funds are heavily investing in Intuit, with institutional investors holding 83.66% of the company's stock.

Callan Family Office LLC grew its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 210.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,911 shares of the software maker's stock after purchasing an additional 7,400 shares during the period. Callan Family Office LLC's holdings in Intuit were worth $6,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of INTU. Invesco Ltd. raised its holdings in shares of Intuit by 1.2% in the 1st quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock valued at $1,890,282,000 after buying an additional 36,513 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Intuit by 4.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker's stock worth $1,130,718,000 after acquiring an additional 82,419 shares in the last quarter. Pinnacle Financial Partners Inc lifted its stake in Intuit by 3.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after acquiring an additional 623 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new position in Intuit during the 4th quarter worth about $109,988,000. Finally, Malaga Cove Capital LLC lifted its stake in Intuit by 110.6% during the 1st quarter. Malaga Cove Capital LLC now owns 874 shares of the software maker's stock worth $537,000 after acquiring an additional 459 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Down 0.2%

INTU stock traded down $1.77 during trading on Wednesday, reaching $711.71. 1,602,299 shares of the stock traded hands, compared to its average volume of 1,592,884. The business's 50 day moving average price is $765.97 and its 200-day moving average price is $669.47. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $198.53 billion, a PE ratio of 57.77, a P/E/G ratio of 2.75 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the business earned $9.88 earnings per share. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

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

Insider Buying and Selling

In related news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the transaction, the director owned 15,474 shares of the company's stock, valued at approximately $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark P. Notarainni sold 1,147 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the sale, the executive vice president owned 19 shares of the company's stock, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley increased their target price on Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. UBS Group set a $750.00 price objective on Intuit and gave the company a "neutral" rating in a report on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $815.00 price objective (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Bank of America increased their price objective on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. One research 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $806.27.

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.