Ithaka Group LLC Has $10.92 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Ithaka Group LLC trimmed its position in Intuit Inc. (NASDAQ:INTU) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,618 shares of the software maker’s stock after selling 150 shares during the quarter. Intuit comprises approximately 2.0% of Ithaka Group LLC’s holdings, making the stock its 21st largest position. Ithaka Group LLC’s holdings in Intuit were worth $10,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Aveo Capital Partners LLC bought a new stake in Intuit during the 4th quarter valued at approximately $203,000. 9258 Wealth Management LLC boosted its position in shares of Intuit by 29.0% in the fourth quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock valued at $406,000 after acquiring an additional 146 shares during the period. Gryphon Financial Partners LLC grew its stake in shares of Intuit by 31.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock worth $1,022,000 after acquiring an additional 393 shares during the last quarter. Jump Financial LLC increased its position in Intuit by 108.0% during the fourth quarter. Jump Financial LLC now owns 1,562 shares of the software maker’s stock worth $976,000 after acquiring an additional 811 shares during the period. Finally, Kingsview Wealth Management LLC raised its stake in Intuit by 8.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 1,147 shares of the software maker’s stock valued at $717,000 after purchasing an additional 92 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 1.4 %

Shares of INTU opened at $655.31 on Monday. The stock has a fifty day moving average price of $636.63 and a two-hundred day moving average price of $631.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $183.68 billion, a price-to-earnings ratio of 60.45, a PEG ratio of 3.14 and a beta of 1.24. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the business earned $0.40 earnings per share. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts predict that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is 33.21%.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares in the company, valued at $12,575.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at $15,752,985.01. The disclosure for this sale can be found here. Insiders sold a total of 16,940 shares of company stock worth $10,721,252 over the last 90 days. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on INTU. UBS Group boosted their price objective on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. JPMorgan Chase & Co. boosted their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Royal Bank of Canada began coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective for the company. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $720.37.

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.