Intuit Inc. (NASDAQ:INTU) Shares Purchased by Carnegie Investment Counsel

Carnegie Investment Counsel increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 98.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,172 shares of the software maker’s stock after purchasing an additional 582 shares during the quarter. Carnegie Investment Counsel’s holdings in Intuit were worth $685,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of INTU. GAMMA Investing LLC increased its stake 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 valued at $17,348,790,000 after purchasing an additional 2,821,534 shares during the period. Nicholas Hoffman & Company LLC. acquired a new position in Intuit in the first quarter valued at $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 valued at $1,930,765,000 after purchasing an additional 771,232 shares during the period. Wellington Management Group LLP increased its stake 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 valued at $3,329,115,000 after purchasing an additional 620,559 shares during the period. Finally, Unisphere Establishment increased its stake in Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after purchasing an additional 500,000 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Up 0.6%

Shares of NASDAQ INTU opened at $785.95 on Friday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60. The company has a market capitalization of $219.24 billion, a PE ratio of 63.79, a price-to-earnings-growth ratio of 3.47 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm’s 50-day moving average is $755.39 and its two-hundred day moving average is $655.80.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm earned $9.88 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm 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. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Wall Street Analyst Weigh In

A number of research firms have commented on INTU. Stifel Nicolaus lifted their price objective on shares of Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Bank of America lifted their target price on shares of Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a report on Friday, May 23rd. BMO Capital Markets lifted their target price on shares of Intuit from $820.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Finally, CLSA began coverage on shares of Intuit in a report on Thursday, June 26th. They issued an “outperform” rating and a $900.00 target price on the stock. One investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $800.55.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,738 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the transaction, the chief accounting officer owned 455 shares of the company’s stock, valued at $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the transaction, the director directly owned 15,474 shares of the company’s stock, valued at approximately $11,890,685.82. This represents a 2.11% decrease in their position. 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 owned by company insiders.

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.