Florida Financial Advisors LLC Buys 56 Shares of Intuit Inc. (NASDAQ:INTU)

Florida Financial Advisors LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 15.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 419 shares of the software maker’s stock after purchasing an additional 56 shares during the period. Florida Financial Advisors LLC’s holdings in Intuit were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Intuit during the fourth quarter valued at about $2,290,419,000. GAMMA Investing LLC boosted its stake in shares of Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock valued at $17,348,790,000 after purchasing an additional 2,821,534 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after purchasing an additional 771,232 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Finally, Unisphere Establishment boosted its stake in shares of Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after purchasing an additional 500,000 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 0.6%

Shares of INTU stock opened at $752.75 on Tuesday. The company has a market cap of $209.98 billion, a P/E ratio of 61.10, a PEG ratio of 3.33 and a beta of 1.27. The stock has a 50 day simple moving average of $735.45 and a two-hundred day simple moving average of $647.51. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60.

Intuit (NASDAQ:INTU) last issued 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. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $9.88 earnings per share. Research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 882 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director directly owned 15,474 shares of the company’s stock, valued at $11,890,685.82. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 279,800 shares of company stock valued at $209,725,054. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INTU. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. The Goldman Sachs Group raised their price objective on Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Royal Bank Of Canada restated an “outperform” rating and set a $850.00 price objective (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price objective on Intuit and gave the stock a “buy” rating in a research report on Friday, May 23rd. One 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $800.55.

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.