GAMMA Investing LLC Has $17.35 Billion Stock Holdings in Intuit Inc. (NASDAQ:INTU)

GAMMA Investing LLC increased its holdings in Intuit Inc. (NASDAQ:INTU) by 69,701.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,825,582 shares of the software maker’s stock after purchasing an additional 2,821,534 shares during the quarter. Intuit makes up approximately 3.1% of GAMMA Investing LLC’s holdings, making the stock its 4th largest holding. GAMMA Investing LLC’s holdings in Intuit were worth $17,348,790,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of INTU. Norges Bank purchased a new stake in shares of Intuit in the 4th quarter worth about $2,290,419,000. Proficio Capital Partners LLC raised its stake in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intuit by 33.5% during 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 purchasing an additional 771,232 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Intuit by 13.3% during 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 acquiring an additional 620,559 shares in the last quarter. Finally, Unisphere Establishment increased its holdings in shares of Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock worth $942,750,000 after purchasing an additional 500,000 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.4%

Shares of Intuit stock opened at $757.22 on Friday. The firm has a market cap of $211.69 billion, a price-to-earnings ratio of 73.52, a PEG ratio of 2.85 and a beta of 1.24. The business has a 50-day moving average price of $628.02 and a 200-day moving average price of $623.14. 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 Inc. has a twelve month low of $532.65 and a twelve month high of $759.50.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm posted $9.88 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. Equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio is currently 33.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on INTU shares. Susquehanna reaffirmed a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. 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. Morgan Stanley reissued an “overweight” rating and set a $785.00 price target (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Evercore ISI boosted their price target on Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a research note on Friday, May 23rd. Finally, Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $785.33.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the transaction, the chief financial officer now directly owns 197 shares of the company’s stock, valued at approximately $143,047.61. The trade was a 98.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,156 shares of company stock worth $118,788,255. Company insiders own 2.68% of the company’s stock.

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.