Eagle Capital Management LLC Has $7.85 Million Stake in Intuit Inc. (NASDAQ:INTU)

Eagle Capital Management LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,489 shares of the software maker’s stock after buying an additional 26 shares during the quarter. Intuit accounts for 3.2% of Eagle Capital Management LLC’s portfolio, making the stock its 11th biggest holding. Eagle Capital Management LLC’s holdings in Intuit were worth $7,849,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in Intuit during the third quarter worth $27,000. Sugar Maple Asset Management LLC acquired a new position in shares of Intuit during the 4th quarter worth $29,000. Denver PWM LLC bought a new stake in shares of Intuit during the 3rd quarter worth $32,000. Dunhill Financial LLC boosted its stake in Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in Intuit in the second quarter valued at about $49,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Up 0.4 %

Shares of NASDAQ INTU opened at $611.68 on Thursday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $171.22 billion, a PE ratio of 59.39, a P/E/G ratio of 3.00 and a beta of 1.25. The company’s fifty day simple moving average is $642.42 and its 200 day simple moving average is $635.95.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the business posted $1.14 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is currently 40.39%.

Analyst Ratings Changes

A number of brokerages have weighed in on INTU. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Barclays dropped their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Buying and Selling at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by corporate insiders.

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.