Exchange Traded Concepts LLC Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)


Exchange Traded Concepts LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 310.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,117 shares of the software maker’s stock after buying an additional 2,358 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Intuit were worth $1,184,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DNB Asset Management AS lifted its stake in shares of Intuit by 107.9% during the 4th quarter. DNB Asset Management AS now owns 83,821 shares of the software maker’s stock valued at $31,839,000 after buying an additional 43,510 shares in the last quarter. Boston Trust Walden Corp bought a new stake in Intuit in the 4th quarter valued at $28,494,000. State of Alaska Department of Revenue increased its holdings in Intuit by 7.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 58,725 shares of the software maker’s stock valued at $19,155,000 after acquiring an additional 4,271 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Intuit by 22.9% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,400 shares of the software maker’s stock valued at $1,226,000 after acquiring an additional 820 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Intuit by 3.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,730 shares of the software maker’s stock valued at $4,153,000 after acquiring an additional 444 shares during the last quarter. Institutional investors own 84.79% of the company’s stock.

Intuit stock opened at $389.46 on Thursday. The stock has a market cap of $102.33 billion, a price-to-earnings ratio of 52.28, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.09 and a quick ratio of 3.09. Intuit Inc. has a 1 year low of $187.68 and a 1 year high of $398.12. The firm has a 50-day moving average of $372.41 and a two-hundred day moving average of $336.48.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Wednesday, November 18th. The software maker reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.90. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Intuit had a net margin of 25.10% and a return on equity of 40.29%. During the same period in the previous year, the company earned $0.55 EPS. Research analysts expect that Intuit Inc. will post 5.87 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 19th. Shareholders of record on Monday, January 11th were given a $0.59 dividend. The ex-dividend date was Friday, January 8th. This represents a $2.36 annualized dividend and a yield of 0.61%. Intuit’s dividend payout ratio (DPR) is 35.98%.

A number of brokerages have issued reports on INTU. Wells Fargo & Company lifted their price target on shares of Intuit from $425.00 to $440.00 and gave the company an “overweight” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Intuit from a “hold” rating to a “strong sell” rating and set a $310.00 price target on the stock. in a report on Thursday, December 10th. JPMorgan Chase & Co. upgraded shares of Intuit from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $300.00 to $450.00 in a report on Wednesday, December 9th. Credit Suisse Group boosted their target price on shares of Intuit from $405.00 to $460.00 and gave the stock an “outperform” rating in a report on Friday, January 15th. Finally, Barclays started coverage on shares of Intuit in a report on Monday, January 11th. They issued an “overweight” rating and a $455.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $400.25.

In other news, EVP James Alexander Chriss sold 587 shares of the company’s stock in a transaction that occurred on Monday, November 23rd. The shares were sold at an average price of $348.07, for a total value of $204,317.09. Following the completion of the sale, the executive vice president now owns 221 shares of the company’s stock, valued at approximately $76,923.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michelle M. Clatterbuck sold 412 shares of the company’s stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $379.23, for a total transaction of $156,242.76. Following the completion of the sale, the chief financial officer now directly owns 978 shares of the company’s stock, valued at approximately $370,886.94. The disclosure for this sale can be found here. Insiders sold a total of 5,803 shares of company stock valued at $2,166,769 in the last ninety days. Corporate insiders own 3.38% of the company’s stock.

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)



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