Regatta Capital Group LLC Buys 35 Shares of Intuit Inc. (NASDAQ:INTU)

Regatta Capital Group LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,619 shares of the software maker’s stock after acquiring an additional 35 shares during the quarter. Regatta Capital Group LLC’s holdings in Intuit were worth $994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of INTU. Copia Wealth Management bought a new position in shares of Intuit in the fourth quarter worth approximately $25,000. NewSquare Capital LLC grew its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Intuit in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Intuit during the fourth quarter valued at about $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a “buy” rating in a research note on Friday, May 23rd. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective on the stock in a research report on Wednesday, April 23rd. Susquehanna restated a “positive” rating on shares of Intuit in a report on Friday, May 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $850.00 price target (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Citigroup reissued a “buy” rating and set a $789.00 price objective (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $785.33.

Intuit Stock Up 0.6%

Shares of Intuit stock opened at $771.58 on Monday. The company has a 50-day simple moving average of $646.24 and a two-hundred day simple moving average of $625.84. The stock has a market capitalization of $215.23 billion, a PE ratio of 74.91, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. 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 announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the business earned $9.88 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. Intuit’s dividend payout ratio is presently 33.77%.

Insider Activity

In other news, EVP Mark P. Notarainni sold 469 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the transaction, the executive vice president now directly owns 19 shares in the company, valued at $13,775. This trade represents a 96.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,592 shares of company stock valued at $165,325,437 over the last three months. Insiders own 2.68% of the company’s stock.

About Intuit

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.