Intuit Inc. (NASDAQ:INTU) Holdings Increased by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,245 shares of the software maker’s stock after acquiring an additional 621 shares during the period. Intuit accounts for approximately 2.6% of Cohen Investment Advisors LLC’s holdings, making the stock its 7th biggest holding. Cohen Investment Advisors LLC’s holdings in Intuit were worth $4,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit in the fourth quarter worth approximately $25,000. MCF Advisors LLC increased its stake in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Intuit during the fourth quarter valued at $38,000. Sachetta LLC purchased a new stake in shares of Intuit during the fourth quarter valued at $39,000. Finally, Webster Bank N. A. bought a new position in shares of Intuit in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 0.6 %

NASDAQ INTU traded up $3.68 during trading on Thursday, hitting $659.90. The company’s stock had a trading volume of 931,929 shares, compared to its average volume of 1,530,018. Intuit Inc. has a fifty-two week low of $444.19 and a fifty-two week high of $676.62. The company has a market cap of $184.47 billion, a PE ratio of 60.88, a P/E/G ratio of 3.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The business’s 50 day simple moving average is $620.43 and its 200-day simple moving average is $629.18.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping the consensus estimate of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.80 EPS. On average, equities analysts anticipate that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INTU. Stifel Nicolaus decreased their price objective on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. Royal Bank of Canada started coverage on Intuit in a report on Wednesday. They issued an “outperform” rating and a $760.00 price target for the company. Wells Fargo & Company increased their price objective on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, Morgan Stanley increased their price target on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $687.22.

Insiders Place Their Bets

In related news, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now owns 869 shares in the company, valued at approximately $525,380.02. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the sale, the executive vice president now directly owns 869 shares in the company, valued at $525,380.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is owned by company insiders.

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.