Angeles Investment Advisors LLC Raises Position in Intuit Inc. (NASDAQ:INTU)

Angeles Investment Advisors LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 81.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 710 shares of the software maker’s stock after buying an additional 318 shares during the period. Angeles Investment Advisors LLC’s holdings in Intuit were worth $467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Aveo Capital Partners LLC bought a new stake in Intuit during the 4th quarter valued at $203,000. 9258 Wealth Management LLC boosted its holdings in shares of Intuit by 29.0% during the fourth quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock worth $406,000 after purchasing an additional 146 shares during the period. Gryphon Financial Partners LLC grew its stake in shares of Intuit by 31.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock worth $1,022,000 after purchasing an additional 393 shares during the last quarter. Jump Financial LLC increased its holdings in Intuit by 108.0% during the 4th quarter. Jump Financial LLC now owns 1,562 shares of the software maker’s stock valued at $976,000 after purchasing an additional 811 shares during the period. Finally, Kingsview Wealth Management LLC raised its position in Intuit by 8.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 1,147 shares of the software maker’s stock valued at $717,000 after purchasing an additional 92 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, BMO Capital Markets raised their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $720.37.

Intuit Price Performance

INTU opened at $655.31 on Monday. The firm has a market cap of $183.68 billion, a PE ratio of 60.45, a P/E/G ratio of 3.14 and a beta of 1.24. The stock has a 50-day moving average price of $636.63 and a 200-day moving average price of $631.56. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Sell-side analysts predict that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 33.21%.

Insider Activity

In related news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the sale, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $664,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 value of $628,215.00. Following the sale, the executive vice president now owns 1,020 shares in the company, valued at $664,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The disclosure for this sale can be found here. Insiders have sold a total of 16,940 shares of company stock valued at $10,721,252 over the last ninety days. 2.90% of the stock is currently owned by corporate 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.