GAMMA Investing LLC Has $2.83 Million Stake in Intuit Inc. (NASDAQ:INTU)

GAMMA Investing LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,602 shares of the software maker's stock after acquiring an additional 554 shares during the quarter. GAMMA Investing LLC's holdings in Intuit were worth $2,826,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of INTU. Copia Wealth Management purchased a new position in Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC increased its stake in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new position in Intuit in the 4th quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in Intuit in the 4th quarter worth about $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in Intuit in the 4th quarter worth about $35,000. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INTU. Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 price target (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. Barclays reissued an "overweight" rating and issued a $815.00 price target (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Evercore ISI lifted their price target on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Mizuho raised their price objective on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Finally, Susquehanna restated a "positive" rating on shares of Intuit in a research 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 assigned a strong buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and an average price target of $793.05.

Intuit Stock Performance

NASDAQ INTU traded up $3.71 during trading on Friday, hitting $776.57. The company's stock had a trading volume of 2,051,675 shares, compared to its average volume of 1,613,471. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average price of $700.54 and a 200 day moving average price of $638.38. The firm has a market cap of $216.62 billion, a P/E ratio of 63.03, a price-to-earnings-growth ratio of 3.45 and a beta of 1.28. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $787.22.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The company 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 company'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 posted $9.88 EPS. Equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Insiders Place Their Bets

In other news, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the sale, the executive vice president now directly owns 23,101 shares in the company, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 19 shares in the company, valued at approximately $13,775. This represents a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 272,896 shares of company stock valued at $204,351,942 in the last three months. Company 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.