Intuit Inc. (NASDAQ:INTU) is GAMMA Investing LLC's 4th Largest Position

GAMMA Investing LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 69,701.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,825,582 shares of the software maker's stock after buying an additional 2,821,534 shares during the period. Intuit comprises 3.1% of GAMMA Investing LLC's investment portfolio, making the stock its 4th largest position. GAMMA Investing LLC owned 1.01% of Intuit worth $17,348,790,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of INTU. Norges Bank purchased a new position in Intuit during the fourth quarter valued at $2,290,419,000. Proficio Capital Partners LLC increased its position in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after buying an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 acquiring an additional 771,232 shares during the period. Wellington Management Group LLP boosted its stake in Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Finally, Unisphere Establishment boosted its stake in Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after buying an additional 500,000 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Intuit news, EVP Mark P. Notarainni sold 469 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at $13,775. The trade was a 96.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,804 shares of company stock valued at $138,081,963 in the last ninety days. Company insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

INTU has been the subject of a number of research analyst reports. Barclays reissued an "overweight" rating and set a $815.00 price target (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $785.00 price target (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a report on Wednesday, April 23rd. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $742.00 price target (up previously from $642.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $785.33.

Intuit Stock Down 0.7%

Intuit stock traded down $5.56 during midday trading on Tuesday, reaching $759.43. The company's stock had a trading volume of 522,663 shares, compared to its average volume of 1,616,121. The business has a 50-day simple moving average of $633.69 and a 200-day simple moving average of $622.92. The company has a market cap of $211.84 billion, a P/E ratio of 73.73, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $771.38. 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 (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the company earned $9.88 EPS. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit's payout ratio is currently 33.77%.

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.