L2 Asset Management LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

L2 Asset Management LLC acquired a new stake in shares of Intuit Inc. (NASDAQ:INTUGet Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 381 shares of the software maker’s stock, valued at approximately $245,000.

Other institutional investors have also recently modified their holdings of the company. JNBA Financial Advisors purchased a new position in Intuit in the fourth quarter worth about $25,000. Mascoma Wealth Management LLC grew its position in Intuit by 3,900.0% in the fourth quarter. Mascoma Wealth Management LLC now owns 40 shares of the software maker’s stock worth $26,000 after acquiring an additional 39 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Intuit in the fourth quarter worth about $26,000. Baillie Gifford & Co. purchased a new position in Intuit in the fourth quarter worth about $30,000. Finally, D Orazio & Associates Inc. grew its position in Intuit by 1,200.0% in the third quarter. D Orazio & Associates Inc. now owns 78 shares of the software maker’s stock worth $42,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Several research analysts recently commented on INTU shares. Wolfe Research dropped their price target on Intuit from $790.00 to $600.00 and set an “outperform” rating for the company in a research report on Friday, February 25th. JPMorgan Chase & Co. dropped their price target on Intuit from $750.00 to $640.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. Deutsche Bank Aktiengesellschaft dropped their price target on Intuit from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Bank of America decreased their price objective on shares of Intuit from $750.00 to $650.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Finally, BMO Capital Markets decreased their price objective on shares of Intuit from $600.00 to $550.00 in a research note on Monday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, Intuit currently has a consensus rating of “Buy” and an average target price of $611.45.

INTU stock traded up $17.87 during trading on Friday, hitting $371.76. 1,893,305 shares of the company’s stock traded hands, compared to its average volume of 1,759,279. The firm has a market capitalization of $105.14 billion, a P/E ratio of 47.42, a PEG ratio of 2.84 and a beta of 1.16. The business has a fifty day simple moving average of $450.35 and a two-hundred day simple moving average of $540.44. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. Intuit Inc. has a 1 year low of $339.36 and a 1 year high of $716.86.

Intuit (NASDAQ:INTUGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The software maker reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.26). The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Intuit had a net margin of 19.03% and a return on equity of 20.37%. The business’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 earnings per share. On average, equities research analysts predict that Intuit Inc. will post 8.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Monday, April 11th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, April 8th. Intuit’s payout ratio is 34.69%.

In other Intuit news, EVP Laura A. Fennell sold 59,286 shares of Intuit stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $475.03, for a total value of $28,162,628.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James Alexander Chriss sold 368 shares of Intuit stock in a transaction on Monday, February 28th. The stock was sold at an average price of $478.84, for a total transaction of $176,213.12. The disclosure for this sale can be found here. Company insiders own 3.27% of the company’s stock.

Intuit Company Profile (Get Rating)

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 ProConnect.

See Also

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTUGet Rating).

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.