Nan Fung Trinity HK Ltd. Takes $16.62 Million Position in Intuit Inc. (NASDAQ:INTU)

Key Points

• Nan Fung Trinity HK Ltd. acquired a new stake of 27,070 shares in Intuit Inc. valued at approximately $16.6 million, making it the firm's 18th largest position.
• Analysts have shown confidence in Intuit, with target prices being lifted by several firms, including BMO Capital Markets and Morgan Stanley, suggesting strong growth potential for the stock.
• Intuit recently announced a quarterly dividend of $1.04 per share, reflecting an annualized payout of $4.16 and a yield of 0.52%.

Nan Fung Trinity HK Ltd. acquired a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 27,070 shares of the software maker's stock, valued at approximately $16,621,000. Intuit comprises approximately 2.6% of Nan Fung Trinity HK Ltd.'s portfolio, making the stock its 18th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Copia Wealth Management acquired a new stake in shares of Intuit in the fourth quarter valued at about $25,000. Summit Securities Group LLC bought a new stake in Intuit in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter valued at approximately $28,000. Olde Wealth Management LLC bought a new position in Intuit during the 1st quarter worth approximately $37,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in shares of Intuit by 523.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider owned 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the sale, the executive vice president directly owned 40,767 shares of the company's stock, valued at $31,017,164.28. The trade was a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

INTU has been the subject of several recent analyst reports. Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Oppenheimer upped their price target on shares of Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a research report on Monday. Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 price objective (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. KeyCorp restated an "overweight" rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Bank of America raised their target price on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $806.27.

Intuit Stock Up 0.1%

INTU traded up $1.05 during trading on Wednesday, hitting $807.39. 1,603,863 shares of the company's stock were exchanged, compared to its average volume of 1,328,655. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The stock has a market cap of $225.22 billion, a P/E ratio of 65.53, a PEG ratio of 3.58 and a beta of 1.27. The business's 50 day moving average is $763.60 and its two-hundred day moving average is $659.50. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last posted its 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. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm posted $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 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.