GAMMA Investing LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

GAMMA Investing LLC increased its holdings in Intuit Inc. (NASDAQ:INTU) by 44.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,870 shares of the software maker’s stock after purchasing an additional 883 shares during the period. GAMMA Investing LLC’s holdings in Intuit were worth $1,886,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in INTU. Trust Point Inc. purchased a new stake in shares of Intuit during the 4th quarter worth approximately $953,000. Ballentine Partners LLC raised its holdings in shares of Intuit by 21.7% during the 4th quarter. Ballentine Partners LLC now owns 2,802 shares of the software maker’s stock worth $1,751,000 after acquiring an additional 499 shares in the last quarter. Leavell Investment Management Inc. raised its holdings in shares of Intuit by 15.4% during the 4th quarter. Leavell Investment Management Inc. now owns 994 shares of the software maker’s stock worth $621,000 after acquiring an additional 133 shares in the last quarter. KG&L Capital Management LLC bought a new position in shares of Intuit during the 4th quarter valued at approximately $366,000. Finally, Walkner Condon Financial Advisors LLC increased its position in shares of Intuit by 5.8% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 544 shares of the software maker’s stock valued at $340,000 after purchasing an additional 30 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Mark P. Notarainni sold 465 shares of the company’s 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 owns 869 shares in the company, valued at $525,380.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is currently owned by insiders.

Intuit Stock Down 2.2 %

Shares of INTU traded down $13.90 during trading hours on Friday, hitting $623.92. The company had a trading volume of 1,788,726 shares, compared to its average volume of 1,239,510. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $174.42 billion, a PE ratio of 57.56, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company’s fifty day moving average price is $622.03 and its two-hundred day moving average price is $634.09.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion during 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%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $7.80 earnings per share. As a group, equities analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Bank of America cut their target price on Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. KeyCorp boosted their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Susquehanna cut their target price on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. UBS Group boosted their target price on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Finally, Citigroup boosted their target price on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $694.27.

Intuit 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.