Valeo Financial Advisors LLC Acquires 190 Shares of Intuit Inc. (NASDAQ:INTU)
Valeo Financial Advisors LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 134.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 331 shares of the software maker’s stock after purchasing an additional 190 shares during the period. Valeo Financial Advisors LLC’s holdings in Intuit were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in INTU. NEXT Financial Group Inc grew its stake in shares of Intuit by 3.0% in the 4th quarter. NEXT Financial Group Inc now owns 1,320 shares of the software maker’s stock worth $346,000 after buying an additional 38 shares during the last quarter. OLD National Bancorp IN lifted its position in Intuit by 0.6% in the 4th quarter. OLD National Bancorp IN now owns 7,121 shares of the software maker’s stock valued at $1,865,000 after acquiring an additional 39 shares in the last quarter. Papp L Roy & Associates lifted its position in Intuit by 1.5% in the 3rd quarter. Papp L Roy & Associates now owns 2,895 shares of the software maker’s stock valued at $770,000 after acquiring an additional 44 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Intuit by 1.4% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,640 shares of the software maker’s stock valued at $968,000 after acquiring an additional 50 shares in the last quarter. Finally, Cim LLC lifted its position in Intuit by 1.3% in the 3rd quarter. Cim LLC now owns 4,300 shares of the software maker’s stock valued at $1,144,000 after acquiring an additional 56 shares in the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.
In other Intuit news, Chairman Scott D. Cook sold 112,022 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $266.16, for a total value of $29,815,775.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Scott D. Cook sold 73,357 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $256.08, for a total value of $18,785,260.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 527,369 shares of company stock worth $136,763,551. 4.09% of the stock is owned by insiders.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.16. Intuit had a return on equity of 42.04% and a net margin of 22.79%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm earned $0.29 EPS. Intuit’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, analysts predict that Intuit Inc. will post 6.3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Friday, January 10th were issued a $0.53 dividend. The ex-dividend date was Thursday, January 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.74%. Intuit’s dividend payout ratio is currently 37.99%.
Several equities analysts recently issued reports on INTU shares. Morgan Stanley upped their price objective on Intuit from $260.00 to $290.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. BidaskClub raised Intuit from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. KeyCorp increased their price target on Intuit from $305.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating and set a $280.00 price target on the stock. in a report on Monday, December 30th. Finally, ValuEngine cut Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $285.00.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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