GAMMA Investing LLC Purchases 210 Shares of Intuit Inc. (NASDAQ:INTU)

GAMMA Investing LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,048 shares of the software maker’s stock after acquiring an additional 210 shares during the period. GAMMA Investing LLC’s holdings in Intuit were worth $2,544,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC purchased a new stake in Intuit in the 2nd quarter worth approximately $392,000. Founders Financial Securities LLC increased its stake in shares of Intuit by 19.9% in the second quarter. Founders Financial Securities LLC now owns 862 shares of the software maker’s stock worth $567,000 after purchasing an additional 143 shares in the last quarter. First National Trust Co raised its position in shares of Intuit by 3.7% during the 2nd quarter. First National Trust Co now owns 999 shares of the software maker’s stock valued at $657,000 after purchasing an additional 36 shares during the period. Larson Financial Group LLC lifted its stake in shares of Intuit by 79.3% during the 2nd quarter. Larson Financial Group LLC now owns 217 shares of the software maker’s stock valued at $143,000 after buying an additional 96 shares in the last quarter. Finally, Mattern Capital Management LLC boosted its holdings in Intuit by 29.0% in the 2nd quarter. Mattern Capital Management LLC now owns 787 shares of the software maker’s stock worth $517,000 after buying an additional 177 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 262,814 shares of company stock valued at $170,119,823. Company insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $622.79 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $174.33 billion, a PE ratio of 60.47, a price-to-earnings-growth ratio of 3.24 and a beta of 1.24. The firm’s 50 day simple moving average is $648.62 and its 200-day simple moving average is $637.79. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the company posted $1.14 EPS. Intuit’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s dividend payout ratio is currently 40.39%.

Analyst Ratings Changes

Several brokerages have recently commented on INTU. Barclays lowered their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $737.44.

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.