340 Shares in Intuit Inc. (NASDAQ:INTU) Purchased by Echo45 Advisors LLC

Echo45 Advisors LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 340 shares of the software maker's stock, valued at approximately $209,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Norges Bank acquired a new stake in shares of Intuit in the 4th quarter worth approximately $2,290,419,000. GAMMA Investing LLC grew its holdings in shares of Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after acquiring an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intuit by 33.5% in the 4th 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 acquiring an additional 771,232 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after acquiring an additional 620,559 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Up 0.2%

Shares of NASDAQ INTU traded up $1.46 during midday trading on Thursday, hitting $766.21. The stock had a trading volume of 1,299,085 shares, compared to its average volume of 1,613,610. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.45. The company has a market capitalization of $213.73 billion, a price-to-earnings ratio of 74.39, a PEG ratio of 2.85 and a beta of 1.28. The company has a fifty day moving average price of $656.45 and a 200 day moving average price of $628.59.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.88 EPS. On average, analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors 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 annualized dividend and a dividend yield of 0.54%. Intuit's payout ratio is currently 33.77%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on INTU shares. Morgan Stanley restated an "overweight" rating and issued a $785.00 price target (up previously from $720.00) on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. Bank of America upped their target price on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Intuit has a consensus rating of "Moderate Buy" and an average price target of $785.33.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 62,816 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the sale, the insider now directly owns 6,000,679 shares of the company's stock, valued at approximately $4,596,460,107.21. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares of the company's stock, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 288,408 shares of company stock valued at $213,441,865. Corporate insiders own 2.68% of the company's stock.

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.