Choreo LLC Acquires 1,233 Shares of Intuit Inc. (NASDAQ:INTU)

Choreo LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,702 shares of the software maker’s stock after acquiring an additional 1,233 shares during the quarter. Choreo LLC’s holdings in Intuit were worth $6,742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new position in shares of Intuit in the fourth quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new position in Intuit during the 3rd quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $29,000. Finally, Denver PWM LLC bought a new stake in shares of Intuit in the 3rd quarter valued at $32,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

INTU stock opened at $588.26 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50-day simple moving average of $629.33 and a two-hundred day simple moving average of $632.68. The company has a market capitalization of $164.66 billion, a P/E ratio of 57.11, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is currently 40.39%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on INTU shares. Oppenheimer lifted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Scotiabank started coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Buying and Selling

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by 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.