Traveka Wealth LLC Acquires 82 Shares of Intuit Inc. (NASDAQ:INTU)

Traveka Wealth LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 13.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 693 shares of the software maker’s stock after purchasing an additional 82 shares during the period. Traveka Wealth LLC’s holdings in Intuit were worth $425,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Norges Bank acquired a new position in Intuit during the fourth quarter valued at approximately $2,290,419,000. GAMMA Investing LLC grew its holdings in Intuit by 69,701.9% during 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Intuit by 33.5% during 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 last quarter. Wellington Management Group LLP grew its holdings in 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 purchasing an additional 620,559 shares during the last quarter. Finally, Unisphere Establishment grew its holdings in Intuit by 50.0% during 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 last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 1.1%

Shares of INTU stock opened at $782.26 on Friday. The stock has a market cap of $218.21 billion, a P/E ratio of 63.49, a price-to-earnings-growth ratio of 3.47 and a beta of 1.27. The stock has a fifty day moving average price of $718.90 and a 200 day moving average price of $642.39. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

Intuit (NASDAQ:INTUGet Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $9.88 earnings per share. Analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. Intuit’s payout ratio is presently 33.77%.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the transaction, the executive vice president directly owned 22,796 shares of the company’s stock, valued at $17,148,291. The trade was a 52.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $11,662,373.93. Following the completion of the transaction, the chief financial officer directly owned 197 shares of the company’s stock, valued at $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,661 shares of company stock valued at $206,491,776. Insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Susquehanna reiterated a “positive” rating on shares of Intuit in a report on Friday, May 23rd. BMO Capital Markets restated an “outperform” rating and issued a $820.00 price objective (up previously from $714.00) on shares of Intuit in a research note on Friday, May 23rd. KeyCorp restated an “overweight” rating and issued a $850.00 price objective (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the stock an “overweight” rating in a research note on Friday, June 13th. Finally, Evercore ISI raised their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $793.05.

Get Our Latest Research Report on Intuit

Intuit Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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