Principal Street Partners LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Principal Street Partners LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 98.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 900 shares of the software maker’s stock after buying an additional 446 shares during the quarter. Principal Street Partners LLC’s holdings in Intuit were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Harvest Portfolios Group Inc. grew its stake in Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC grew its position in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after buying an additional 968 shares during the period. Retireful LLC purchased a new stake in Intuit during the third quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intuit in the third quarter worth about $56,144,000. Finally, Cetera Advisors LLC boosted its stake in Intuit by 33.4% in the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after acquiring an additional 2,655 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In related news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $15,752,985.01. This represents a 30.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,265 shares of company stock valued at $35,200,125 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Down 0.4 %

NASDAQ:INTU traded down $2.26 during mid-day trading on Tuesday, reaching $632.36. 68,661 shares of the company’s stock traded hands, compared to its average volume of 1,358,550. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The firm has a market capitalization of $177.14 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25. The company has a 50 day moving average price of $634.58 and a 200-day moving average price of $631.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. On average, sell-side analysts predict that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s payout ratio is currently 40.39%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday. BMO Capital Markets boosted their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $737.44.

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.