Cohen Investment Advisors LLC Acquires 26 Shares of Intuit Inc. (NASDAQ:INTU)

Cohen Investment Advisors LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,271 shares of the software maker’s stock after purchasing an additional 26 shares during the period. Intuit accounts for 2.8% of Cohen Investment Advisors LLC’s holdings, making the stock its 7th biggest position. Cohen Investment Advisors LLC’s holdings in Intuit were worth $4,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. Norges Bank purchased a new position in Intuit in the fourth quarter worth approximately $2,101,848,000. Wellington Management Group LLP boosted its position in shares of 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 buying an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC purchased a new stake in shares of Intuit in the 4th quarter worth about $467,852,000. Parnassus Investments LLC lifted its holdings in Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of Intuit by 54.7% during the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock valued at $735,480,000 after acquiring an additional 416,099 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, CFO Sandeep Aujla sold 1,415 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Intuit news, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the sale, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,963 shares of company stock worth $114,442,445. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Performance

NASDAQ INTU traded down $2.73 during trading hours on Monday, hitting $617.12. 1,967,509 shares of the company’s stock traded hands, compared to its average volume of 1,337,066. The business’s fifty day moving average price is $639.56 and its two-hundred day moving average price is $634.12. 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 Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The firm has a market capitalization of $172.51 billion, a P/E ratio of 56.93, a P/E/G ratio of 3.14 and a beta of 1.23.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is 33.21%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Stifel Nicolaus raised their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company lifted their price target on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. BMO Capital Markets lifted their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Citigroup boosted their target price on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $716.35.

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.