Americafirst Capital Management LLC Takes $184,000 Position in Intuit Inc. (INTU)
Americafirst Capital Management LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,295 shares of the software maker’s stock, valued at approximately $184,000.
A number of other large investors have also bought and sold shares of INTU. Exane Derivatives purchased a new stake in Intuit during the third quarter valued at approximately $105,000. Horan Capital Advisors LLC. purchased a new stake in Intuit during the third quarter valued at approximately $114,000. Captrust Financial Advisors purchased a new stake in Intuit during the second quarter valued at approximately $108,000. Harvest Fund Management Co. Ltd purchased a new stake in Intuit during the second quarter valued at approximately $140,000. Finally, ETF Managers Group LLC purchased a new stake in Intuit during the second quarter valued at approximately $140,000. 86.28% of the stock is currently owned by institutional investors and hedge funds.
Intuit Inc. (NASDAQ INTU) opened at $156.19 on Friday. The company has a market cap of $39,930.00, a PE ratio of 41.67, a P/E/G ratio of 2.81 and a beta of 1.18. Intuit Inc. has a 12 month low of $111.90 and a 12 month high of $158.90. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.35.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Tuesday, January 9th. Intuit’s payout ratio is currently 41.27%.
In related news, insider Scott D. Cook sold 183,333 shares of Intuit stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $145.19, for a total value of $26,618,118.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brad D. Smith sold 110,496 shares of Intuit stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $151.40, for a total transaction of $16,729,094.40. Following the completion of the sale, the chief executive officer now owns 399,246 shares of the company’s stock, valued at $60,445,844.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 879,480 shares of company stock worth $132,586,537. Insiders own 5.59% of the company’s stock.
INTU has been the subject of a number of research reports. Citigroup upped their target price on shares of Intuit to $170.00 in a report on Tuesday, November 21st. Argus began coverage on shares of Intuit in a research note on Wednesday, September 20th. They issued a “buy” rating and a $165.00 price objective for the company. Moffett Nathanson began coverage on shares of Intuit in a research note on Thursday, September 7th. They issued a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research note on Monday, August 28th. Finally, Jefferies Group began coverage on shares of Intuit in a research note on Thursday, August 24th. They issued a “buy” rating and a $157.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $152.89.
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Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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