Intuit Inc. (NASDAQ:INTU) Shares Acquired by Zhang Financial LLC

Zhang Financial LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 448.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,781 shares of the software maker’s stock after buying an additional 1,456 shares during the quarter. Zhang Financial LLC’s holdings in Intuit were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in INTU. Norges Bank acquired a new position in Intuit in the fourth quarter worth $2,290,419,000. 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. Proficio Capital Partners LLC boosted its holdings 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 purchasing an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 purchasing an additional 771,232 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after purchasing an additional 620,559 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU opened at $766.21 on Friday. The business’s 50-day moving average price is $660.65 and its 200 day moving average price is $629.50. The firm has a market cap of $213.73 billion, a P/E ratio of 74.39, a PEG ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. 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) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $9.88 earnings per share. As a group, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is currently 33.77%.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 62,816 shares of Intuit stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total value of $48,116,427.84. Following the completion of the transaction, the insider now directly owns 6,000,679 shares in the company, valued at $4,596,460,107.21. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,408 shares of company stock valued at $213,441,865 over the last three months. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $820.00 target price (up from $714.00) on shares of Intuit in a research note on Friday, May 23rd. Barclays reiterated an “overweight” rating and issued a $815.00 target price (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. The Goldman Sachs Group raised their target price on Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, Bank of America raised their target price on Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $785.33.

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.