Intuit Inc. (NASDAQ:INTU) Shares Acquired by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 13.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,642 shares of the software maker's stock after acquiring an additional 773 shares during the period. Intuit accounts for 2.4% of Cohen Investment Advisors LLC's holdings, making the stock its 11th largest position. Cohen Investment Advisors LLC's holdings in Intuit were worth $4,078,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of INTU. Vanguard Group Inc. raised its position in shares of Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after buying an additional 353,185 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after buying an additional 132,384 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of 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 during the last quarter. Norges Bank bought a new stake in shares of Intuit in the fourth quarter worth $2,290,419,000. Finally, Northern Trust Corp grew its stake in shares of Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Up 1.1%

Intuit stock traded up $8.56 during midday trading on Friday, hitting $782.26. 822,973 shares of the company's stock were exchanged, compared to its average volume of 1,619,453. The company has a market cap of $218.21 billion, a PE ratio of 63.49, a P/E/G ratio of 3.47 and a beta of 1.27. The firm has a 50-day moving average of $715.74 and a two-hundred day moving average of $641.72. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

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

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.53%. Intuit's dividend payout ratio is presently 33.77%.

Wall Street Analyst Weigh In

A number of analysts have commented on INTU shares. Bank of America upped their price target on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the stock an "overweight" rating in a report on Friday, June 13th. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, Barclays restated an "overweight" rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit 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 given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $793.05.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 1,459 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the sale, the executive vice president directly owned 19 shares in the company, 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. Insiders have sold 275,661 shares of company stock valued at $206,491,776 in the last quarter. 2.68% of the stock is currently owned by insiders.

About Intuit

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.