Optas LLC Has $1.11 Million Stake in Intuit Inc. (NASDAQ:INTU)

Optas LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 3.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,761 shares of the software maker’s stock after purchasing an additional 54 shares during the period. Optas LLC’s holdings in Intuit were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in INTU. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new stake in shares of Intuit during the 4th quarter valued at $621,000. Harvest Portfolios Group Inc. grew its holdings in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares in the last quarter. Finally, Retireful LLC acquired a new stake in shares of Intuit during the 3rd quarter worth $740,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of analyst reports. BNP Paribas downgraded shares of 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. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report 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’s stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Down 0.1 %

NASDAQ:INTU opened at $600.76 on Tuesday. The company has a market cap of $168.16 billion, a PE ratio of 58.33, a P/E/G ratio of 2.96 and a beta of 1.25. The firm’s 50 day simple moving average is $630.95 and its 200 day simple moving average is $633.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. On average, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

Insider Buying and Selling

In related news, CAO Lauren D. Hotz sold 1,078 shares of the business’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 transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 over the last ninety days. 2.68% of the stock is owned by company insiders.

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.