Breakwater Capital Group Acquires 102 Shares of Intuit Inc. (NASDAQ:INTU)

Breakwater Capital Group grew its holdings in Intuit Inc. (NASDAQ:INTU) by 9.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,128 shares of the software maker’s stock after purchasing an additional 102 shares during the quarter. Breakwater Capital Group’s holdings in Intuit were worth $733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter worth $2,101,848,000. Wellington Management Group LLP grew its position in Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the period. Lone Pine Capital LLC bought a new position in Intuit in the 4th quarter worth $467,852,000. Parnassus Investments LLC lifted its stake in Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after purchasing an additional 472,172 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $5.77 during midday trading on Friday, reaching $657.21. The company had a trading volume of 1,753,982 shares, compared to its average volume of 1,628,761. The business’s 50-day simple moving average is $618.61 and its 200 day simple moving average is $628.28. The stock has a market cap of $183.72 billion, a P/E ratio of 60.63, a P/E/G ratio of 3.76 and a beta of 1.21. Intuit Inc. has a 1 year low of $444.19 and a 1 year high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter last year, the company posted $7.80 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 14,748 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the completion of the transaction, the insider now owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The disclosure for this sale can be found here. Insiders sold a total of 193,937 shares of company stock valued at $113,123,232 over the last 90 days. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on INTU. Citigroup boosted their price target on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley upped their target price on shares of Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $683.91.

Intuit Company Profile

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.