Regatta Capital Group LLC Buys 35 Shares of Intuit Inc. (NASDAQ:INTU)

Regatta Capital Group LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,619 shares of the software maker’s stock after purchasing an additional 35 shares during the quarter. Regatta Capital Group LLC’s holdings in Intuit were worth $994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after purchasing an additional 1,350 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Intuit during the fourth quarter worth $104,278,000. Revolve Wealth Partners LLC grew its stake in Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock valued at $511,000 after acquiring an additional 482 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Intuit in the 4th quarter valued at $211,000. Finally, Cidel Asset Management Inc. lifted its stake in Intuit by 9.6% in the 4th quarter. Cidel Asset Management Inc. now owns 390 shares of the software maker’s stock worth $245,000 after purchasing an additional 34 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 1,459 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,592 shares of company stock worth $165,325,437 over the last 90 days. Company insiders own 2.68% of the company’s stock.

Intuit Trading Up 0.6%

Shares of NASDAQ INTU opened at $771.58 on Monday. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The firm has a market cap of $215.23 billion, a PE ratio of 74.91, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The business has a fifty day simple moving average of $646.24 and a two-hundred day simple moving average of $625.84. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm 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 18.25% and a net margin of 17.59%. The firm’s quarterly revenue 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. Analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.77%.

Analyst Ratings Changes

INTU has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price objective on Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $742.00 price objective (up previously from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Mizuho increased their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Barclays reissued an “overweight” rating and issued a $815.00 price objective (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $785.33.

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.