Intuit Inc. (NASDAQ:INTU) Shares Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 1,975.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,906 shares of the software maker’s stock after acquiring an additional 18,947 shares during the quarter. MBB Public Markets I LLC’s holdings in Intuit were worth $13,082,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. LGT Financial Advisors LLC acquired a new position in Intuit during the second quarter worth $25,000. Cultivar Capital Inc. purchased a new position in Intuit during the 2nd quarter valued at about $26,000. Fairway Wealth LLC acquired a new position in Intuit in the 2nd quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new stake in Intuit during the second quarter worth about $35,000. Finally, Trifecta Capital Advisors LLC increased its stake in Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on INTU shares. Jefferies Financial Group lifted their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus upped their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Six analysts have rated the stock with a hold rating and fifteen have assigned 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 $720.37.

Intuit Trading Up 0.3 %

INTU opened at $636.83 on Friday. The firm has a market cap of $178.02 billion, a price-to-earnings ratio of 58.75, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The business’s 50 day moving average is $635.45 and its two-hundred day moving average is $630.99. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, research analysts predict that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is 38.38%.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,548 shares of company stock valued at $33,604,124. 2.90% of the stock is owned by company insiders.

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.