Traveka Wealth LLC Acquires 82 Shares of Intuit Inc. (NASDAQ:INTU)

Traveka Wealth LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 13.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 693 shares of the software maker’s stock after buying an additional 82 shares during the quarter. Traveka Wealth LLC’s holdings in Intuit were worth $425,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Cloud Capital Management LLC acquired a new stake in Intuit in the first quarter worth about $65,000. Atlantic Edge Private Wealth Management LLC increased its position in Intuit by 523.1% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker’s stock worth $50,000 after purchasing an additional 68 shares during the period. Concurrent Investment Advisors LLC increased its position in Intuit by 4.3% in the first quarter. Concurrent Investment Advisors LLC now owns 5,237 shares of the software maker’s stock worth $3,216,000 after purchasing an additional 214 shares during the period. World Investment Advisors increased its position in Intuit by 19.3% in the first quarter. World Investment Advisors now owns 1,186 shares of the software maker’s stock worth $728,000 after purchasing an additional 192 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. increased its position in Intuit by 3.5% in the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 5,484 shares of the software maker’s stock worth $3,367,000 after purchasing an additional 184 shares during the period. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on INTU shares. Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. lifted their price objective on Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Bank of America lifted their price objective on Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Barclays reiterated an “overweight” rating and issued a $815.00 price objective (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $793.05.

Intuit Price Performance

Shares of INTU opened at $782.26 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a 50 day simple moving average of $718.90 and a 200 day simple moving average of $642.39. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $790.60. The firm has a market capitalization of $218.21 billion, a PE ratio of 63.49, a P/E/G ratio of 3.47 and a beta of 1.27.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data 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. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business 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 firm earned $9.88 EPS. Intuit’s quarterly revenue was up 15.1% compared to the same quarter last year. Sell-side analysts predict 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 given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. Intuit’s dividend payout ratio is presently 33.77%.

Insiders Place Their Bets

In related news, EVP Marianna Tessel sold 34,329 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president directly owned 40,767 shares in the company, valued at approximately $31,017,164.28. The trade was a 45.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the sale, the chief financial officer owned 197 shares in the company, valued at $143,047.61. The trade was a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,661 shares of company stock worth $206,491,776 in the last three months. 2.68% of the stock is owned by corporate insiders.

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.