Intuit Inc. (NASDAQ:INTU) Shares Acquired by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,315 shares of the software maker’s stock after purchasing an additional 43 shares during the period. Petredis Investment Advisors LLC’s holdings in Intuit were worth $2,649,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in INTU. Copia Wealth Management acquired a new stake in shares of Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new stake in Intuit in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit during the fourth quarter valued at approximately $28,000. Finally, VSM Wealth Advisory LLC bought a new position in Intuit during the 4th quarter worth approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on INTU shares. Wells Fargo & Company reiterated an “overweight” rating and set a $825.00 target price (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley restated an “overweight” rating and set a $785.00 price objective (up from $720.00) on shares of Intuit in a research note on Friday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $742.00 price target (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Barclays reaffirmed an “overweight” rating and issued a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Susquehanna reaffirmed a “positive” rating on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Price Performance

INTU opened at $764.38 on Tuesday. The stock has a fifty day moving average price of $649.11 and a 200 day moving average price of $626.71. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45. The stock has a market cap of $213.22 billion, a price-to-earnings ratio of 74.21, a PEG ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $9.88 EPS. Analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark P. Notarainni sold 469 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at $13,775. This represents a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,592 shares of company stock worth $165,325,437. Corporate insiders own 2.68% of the company’s stock.

Intuit 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.