Investidor Profissional Gestao de Recursos Ltda. Purchases New Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• Investidor Profissional Gestao de Recursos Ltda. has acquired a stake in Intuit Inc., purchasing 806 shares valued at approximately $495,000, making it the firm's 17th largest position.
• Several institutional investors have significantly increased their holdings in Intuit, with GAMMA Investing LLC boosting its stake by 69,701.9% during the first quarter.
• Intuit recently announced a quarterly dividend of $1.04 per share, resulting in an annualized dividend payout of $4.16 with a yield of 0.5%.

Investidor Profissional Gestao de Recursos Ltda. purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 806 shares of the software maker's stock, valued at approximately $495,000. Intuit comprises 0.3% of Investidor Profissional Gestao de Recursos Ltda.'s investment portfolio, making the stock its 17th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INTU. GAMMA Investing LLC boosted its holdings in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares during the period. Nicholas Hoffman & Company LLC. bought a new position in shares of Intuit in the 1st quarter worth about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $1,930,765,000 after buying an additional 771,232 shares during the period. Unisphere Establishment grew its position in shares of Intuit by 50.0% during the 4th 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. Finally, Northern Trust Corp raised its stake in Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after acquiring an additional 498,030 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In other news, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president directly owned 40,767 shares of the company's stock, valued at approximately $31,017,164.28. This represents a 45.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the sale, the executive vice president owned 22,796 shares in the company, valued at $17,148,291. This represents a 52.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Up 1.1%

Shares of Intuit stock opened at $784.87 on Tuesday. The stock has a 50-day moving average price of $768.40 and a 200 day moving average price of $663.67. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The company has a market cap of $218.94 billion, a P/E ratio of 63.71, a P/E/G ratio of 2.99 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data 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 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 21.46% and a net margin of 19.07%. The firm's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.88 EPS. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were issued a $1.04 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.5%. Intuit's dividend payout ratio is 33.77%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Citigroup restated a "buy" rating and set a $789.00 price objective (up from $726.00) on shares of Intuit in a research note on Friday, May 23rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Finally, KeyCorp reissued an "overweight" rating and set a $850.00 target price (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. One 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $806.27.

Intuit Company 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.

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