CV Advisors LLC Invests $201,000 in Intuit Inc. (NASDAQ:INTU)

CV Advisors LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 439 shares of the software maker’s stock, valued at approximately $201,000. Intuit accounts for approximately 0.1% of CV Advisors LLC’s portfolio, making the stock its 20th largest position.

Several other hedge funds have also bought and sold shares of INTU. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Intuit by 99,673.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 157,291,233 shares of the software maker’s stock valued at $72,069,270,000 after purchasing an additional 157,133,584 shares during the last quarter. State Street Corp grew its position in Intuit by 1.9% in the 1st quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock worth $4,948,558,000 after purchasing an additional 210,246 shares during the period. Geode Capital Management LLC raised its stake in Intuit by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 5,183,078 shares of the software maker’s stock valued at $2,305,151,000 after buying an additional 73,118 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Intuit by 3.0% during the 2nd quarter. Brown Advisory Inc. now owns 3,536,542 shares of the software maker’s stock valued at $1,620,408,000 after buying an additional 101,643 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Intuit by 42.5% in the 4th quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after buying an additional 1,027,752 shares during the last quarter. Institutional investors own 82.63% of the company’s stock.

Insider Transactions at Intuit

In related news, Director Raul Vazquez sold 1,938 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $516.52, for a total transaction of $1,001,015.76. Following the transaction, the director now directly owns 1,631 shares in the company, valued at approximately $842,444.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Alex G. Balazs sold 2,307 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $523.58, for a total transaction of $1,207,899.06. Following the transaction, the executive vice president now directly owns 3,774 shares of the company’s stock, valued at $1,975,990.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Raul Vazquez sold 1,938 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $516.52, for a total value of $1,001,015.76. Following the transaction, the director now owns 1,631 shares in the company, valued at approximately $842,444.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,073 shares of company stock worth $22,091,651. 3.18% of the stock is currently owned by insiders.

Intuit Price Performance

INTU stock traded up $1.14 during trading on Monday, hitting $561.30. 241,166 shares of the company’s stock traded hands, compared to its average volume of 1,572,283. The business has a fifty day simple moving average of $521.01 and a 200 day simple moving average of $489.03. Intuit Inc. has a 52 week low of $370.62 and a 52 week high of $567.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $157.33 billion, a price-to-earnings ratio of 66.37, a P/E/G ratio of 3.37 and a beta of 1.20.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 24th. The software maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.22. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. As a group, research analysts expect that Intuit Inc. will post 11.25 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Monday, October 9th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $3.60 annualized dividend and a dividend yield of 0.64%. This is an increase from Intuit’s previous quarterly dividend of $0.78. Intuit’s dividend payout ratio is currently 42.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com began coverage on Intuit in a report on Thursday, October 5th. They issued a “buy” rating on the stock. UBS Group raised their price objective on shares of Intuit from $520.00 to $540.00 and gave the stock a “neutral” rating in a report on Friday, August 25th. Oppenheimer upped their target price on shares of Intuit from $476.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, August 25th. KeyCorp lifted their price target on shares of Intuit from $535.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, September 7th. Finally, Argus raised their target price on Intuit from $580.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, September 6th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $567.41.

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.