Principal Street Partners LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Principal Street Partners LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 98.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 900 shares of the software maker’s stock after purchasing an additional 446 shares during the period. Principal Street Partners LLC’s holdings in Intuit were worth $591,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. LGT Financial Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC bought a new position in shares of Intuit in the second quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Intuit during the second quarter worth about $35,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 0.4 %

INTU traded down $2.26 on Tuesday, hitting $632.36. The company had a trading volume of 68,661 shares, compared to its average volume of 1,358,550. The stock has a market capitalization of $177.14 billion, a price-to-earnings ratio of 61.61, a P/E/G ratio of 3.13 and a beta of 1.25. The stock has a fifty day moving average price of $634.58 and a 200-day moving average price of $631.24. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. Analysts predict that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio is presently 40.39%.

Insider Activity

In other news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. This represents a 99.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,265 shares of company stock worth $35,200,125 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on INTU. Barclays dropped their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price 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.