Stansberry Asset Management LLC Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Stansberry Asset Management LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 6.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,793 shares of the software maker’s stock after buying an additional 562 shares during the period. Stansberry Asset Management LLC’s holdings in Intuit were worth $5,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares during the period. Stevens Capital Management LP purchased a new position in shares of Intuit during the 3rd quarter worth about $1,029,000. Stifel Financial Corp boosted its stake in shares of Intuit by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 404,545 shares of the software maker’s stock worth $251,247,000 after purchasing an additional 1,598 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Intuit by 13.6% during the 3rd quarter. Quantinno Capital Management LP now owns 23,817 shares of the software maker’s stock worth $14,791,000 after purchasing an additional 2,855 shares during the period. Finally, Quarry LP boosted its stake in shares of Intuit by 3,171.4% during the 3rd quarter. Quarry LP now owns 458 shares of the software maker’s stock worth $284,000 after purchasing an additional 444 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group boosted their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley upped their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Trading Up 2.9 %

Shares of Intuit stock opened at $654.64 on Thursday. 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 12-month low of $557.29 and a 12-month high of $714.78. The firm has a market capitalization of $183.25 billion, a price-to-earnings ratio of 63.56, a PEG ratio of 3.14 and a beta of 1.24. The firm’s 50 day simple moving average is $634.29 and its two-hundred day simple moving average is $631.12.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. Analysts predict that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,324 shares of company stock valued at $75,803,690. Corporate insiders own 2.68% of the company’s stock.

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.