RB Capital Management LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

RB Capital Management LLC lifted its holdings in Intuit Inc. (NASDAQ:INTUGet Rating) by 9.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,671 shares of the software maker’s stock after buying an additional 226 shares during the period. RB Capital Management LLC’s holdings in Intuit were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTU. Nicholas Hoffman & Company LLC. raised its stake in shares of Intuit by 933,957.5% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 3,801,614 shares of the software maker’s stock valued at $2,445,274,000 after acquiring an additional 3,801,207 shares during the period. Norges Bank purchased a new stake in shares of Intuit in the 4th quarter valued at approximately $1,492,441,000. BlackRock Inc. raised its stake in shares of Intuit by 7.1% in the 4th quarter. BlackRock Inc. now owns 25,129,120 shares of the software maker’s stock valued at $16,163,554,000 after acquiring an additional 1,664,393 shares during the period. Sustainable Growth Advisers LP raised its stake in shares of Intuit by 163.0% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,621,832 shares of the software maker’s stock valued at $779,842,000 after acquiring an additional 1,005,234 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Intuit by 80.0% in the 1st quarter. Fisher Asset Management LLC now owns 2,165,797 shares of the software maker’s stock valued at $1,041,402,000 after acquiring an additional 962,524 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Down 2.4 %

Shares of INTU traded down $11.48 during mid-day trading on Wednesday, reaching $476.70. 11,275 shares of the stock traded hands, compared to its average volume of 1,429,705. The firm has a market cap of $134.47 billion, a price-to-earnings ratio of 55.35, a P/E/G ratio of 3.29 and a beta of 1.18. The stock has a fifty day simple moving average of $415.92 and a 200 day simple moving average of $442.62. Intuit Inc. has a 12-month low of $339.36 and a 12-month high of $716.86. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.40.

Intuit (NASDAQ:INTUGet Rating) last released its quarterly earnings results on Tuesday, May 24th. The software maker reported $6.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $6.70. Intuit had a net margin of 19.44% and a return on equity of 20.77%. The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the company earned $5.45 earnings per share. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. Sell-side analysts expect that Intuit Inc. will post 8.22 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 18th. Shareholders of record on Monday, July 11th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Friday, July 8th. Intuit’s payout ratio is 30.84%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $392.39, for a total value of $3,923,900.00. Following the sale, the executive vice president now directly owns 28,717 shares in the company, valued at $11,268,263.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, EVP Laura A. Fennell sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $392.39, for a total value of $3,923,900.00. Following the sale, the executive vice president now directly owns 28,717 shares in the company, valued at $11,268,263.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raul Vazquez sold 1,790 shares of Intuit stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $390.37, for a total transaction of $698,762.30. Following the sale, the director now owns 2,019 shares in the company, valued at $788,157.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,774 shares of company stock worth $5,002,772. 3.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INTU. Wells Fargo & Company dropped their price objective on shares of Intuit from $635.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, May 25th. Bank of America dropped their price objective on shares of Intuit from $650.00 to $530.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Oppenheimer dropped their price objective on shares of Intuit to $476.00 in a report on Wednesday, May 25th. William Blair reiterated an “outperform” rating on shares of Intuit in a report on Wednesday, May 25th. Finally, Stifel Nicolaus lowered their price target on shares of Intuit from $580.00 to $465.00 in a report on Wednesday, May 25th. One investment analyst has rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $569.94.

About Intuit

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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 ProConnect.

Further Reading

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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