Traveka Wealth LLC Boosts Position in Intuit Inc. (NASDAQ:INTU)

Traveka Wealth LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 611 shares of the software maker’s stock after acquiring an additional 44 shares during the period. Traveka Wealth LLC’s holdings in Intuit were worth $384,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Fairway Wealth LLC purchased a new position in Intuit in the second quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit during the 3rd quarter valued at about $27,000. Denver PWM LLC acquired a new position in Intuit during the 3rd quarter worth approximately $32,000. Dunhill Financial LLC boosted its holdings in Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after acquiring an additional 32 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in shares of Intuit during the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INTU. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley lifted their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Trading Down 1.6 %

Shares of NASDAQ:INTU opened at $613.22 on Tuesday. 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 company’s 50-day moving average price is $649.47 and its 200 day moving average price is $637.94. The company has a market cap of $171.65 billion, a PE ratio of 59.54, a P/E/G ratio of 3.24 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio is presently 40.39%.

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.