Petredis Investment Advisors LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Petredis Investment Advisors LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,315 shares of the software maker’s stock after purchasing an additional 43 shares during the period. Petredis Investment Advisors LLC’s holdings in Intuit were worth $2,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Intuit by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after purchasing an additional 3,648 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in shares of Intuit during the 4th quarter valued at about $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $237,244,000. V Square Quantitative Management LLC increased its holdings in Intuit by 7.0% in the 4th quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock worth $4,821,000 after acquiring an additional 501 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new position in shares of Intuit during the 4th quarter worth about $10,757,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Susquehanna reiterated a “positive” rating on shares of Intuit in a research note on Friday, May 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $850.00 price objective (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $785.33.

Intuit Trading Down 0.9%

NASDAQ:INTU opened at $764.38 on Tuesday. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. The company has a market capitalization of $213.22 billion, a PE ratio of 74.21, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $649.11 and a 200-day simple moving average of $626.71.

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

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit’s dividend payout ratio is presently 33.77%.

Insider Activity

In related news, EVP Mark P. Notarainni sold 469 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total transaction of $340,025.00. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $13,775. This represents a 96.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Insiders sold 225,592 shares of company stock valued at $165,325,437 in the last ninety days. 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.