Cohen Investment Advisors LLC Raises Position in Intuit Inc. (NASDAQ:INTU)

Cohen Investment Advisors LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 13.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,642 shares of the software maker’s stock after purchasing an additional 773 shares during the period. Intuit makes up about 2.4% of Cohen Investment Advisors LLC’s portfolio, making the stock its 11th biggest holding. Cohen Investment Advisors LLC’s holdings in Intuit were worth $4,078,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Copia Wealth Management acquired a new position in shares of Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Summit Securities Group LLC acquired a new position in shares of Intuit in the 4th quarter valued at $28,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter valued at $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Intuit in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,738 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the sale, the chief accounting officer owned 455 shares of the company’s stock, valued at $356,760.95. This represents a 79.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,661 shares of company stock worth $206,491,776. Insiders own 2.68% of the company’s stock.

Intuit Trading Up 1.1%

Shares of Intuit stock opened at $782.26 on Friday. The firm has a market capitalization of $218.21 billion, a PE ratio of 63.49, a P/E/G ratio of 3.44 and a beta of 1.27. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $790.60. The firm’s 50-day moving average price is $715.74 and its 200 day moving average price is $641.72. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company posted $9.88 EPS. The business’s revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. Intuit’s dividend payout ratio is currently 33.77%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INTU. Royal Bank Of Canada reissued an “outperform” rating and issued a $850.00 target price (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Citigroup reaffirmed a “buy” rating and set a $789.00 price target (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. JPMorgan Chase & Co. increased their price target on Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $785.00 price target (up from $720.00) on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $793.05.

About Intuit

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.