Outfitter Financial LLC Increases Stake in Intuit Inc. (NASDAQ:INTU)

Outfitter Financial LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,087 shares of the software maker’s stock after purchasing an additional 100 shares during the period. Intuit accounts for 2.2% of Outfitter Financial LLC’s portfolio, making the stock its 15th largest position. Outfitter Financial LLC’s holdings in Intuit were worth $2,554,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in INTU. NewSquare Capital LLC purchased a new stake in Intuit during the third quarter valued at about $25,000. DiNuzzo Private Wealth Inc. purchased a new position in Intuit in the fourth quarter valued at approximately $25,000. Cape Investment Advisory Inc. acquired a new position in Intuit during the third quarter valued at approximately $26,000. MCF Advisors LLC increased its position in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Finally, Aspire Private Capital LLC raised its stake in shares of Intuit by 144.4% in the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after acquiring an additional 39 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on INTU shares. JPMorgan Chase & Co. raised their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Mizuho raised their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Oppenheimer raised their target price on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by corporate insiders.

Intuit Price Performance

Intuit stock traded up $7.09 on Friday, reaching $633.95. The company’s stock had a trading volume of 242,970 shares, compared to its average volume of 1,217,788. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The business’s fifty day moving average price is $635.15 and its 200 day moving average price is $608.74. The company has a market cap of $177.51 billion, a price-to-earnings ratio of 64.63, a PEG ratio of 3.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm earned $1.05 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

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.