Turtle Creek Wealth Advisors LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

Turtle Creek Wealth Advisors LLC 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,538 shares of the software maker's stock, valued at approximately $7,084,000. Intuit comprises about 1.1% of Turtle Creek Wealth Advisors LLC's portfolio, making the stock its 29th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Copia Wealth Management bought a new stake in Intuit during the 4th quarter worth about $25,000. Summit Securities Group LLC bought a new stake in Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter worth about $28,000. VSM Wealth Advisory LLC bought a new stake in Intuit during the 4th quarter worth about $35,000. Finally, Olde Wealth Management LLC bought a new stake in Intuit during the 1st quarter worth about $37,000. Institutional investors own 83.66% of the company's stock.

Intuit Stock Up 0.6%

INTU stock traded up $4.65 during mid-day trading on Thursday, hitting $755.37. 1,070,472 shares of the company were exchanged, compared to its average volume of 1,623,957. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $210.71 billion, a P/E ratio of 61.31, a P/E/G ratio of 3.33 and a beta of 1.27. The firm's 50 day simple moving average is $742.02 and its 200 day simple moving average is $649.76. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last announced 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. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the company posted $9.88 EPS. On average, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Buying and Selling

In other news, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the sale, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 over the last ninety days. Insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on INTU. Citigroup reaffirmed a "buy" rating and issued a $789.00 target price (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. JPMorgan Chase & Co. raised their target price on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. UBS Group set a $750.00 target price on shares of Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. The Goldman Sachs Group raised their target price on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $800.55.

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.