Los Angeles Capital Management LLC owns $5.90 million in Intuit Inc. (NASDAQ:INTU)


Los Angeles Capital Management LLC reduced its stake in Intuit Inc. (NASDAQ: INTU – Get Rating) by 36.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor held 12,272 shares of the software maker after selling 7,102 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Intuit were worth $5,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently changed their positions in INTU. JNBA Financial Advisors acquired a new stake in Intuit in the fourth quarter worth approximately $25,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in Intuit in the fourth quarter worth approximately $28,000. Activest Wealth Management bought a new position in Intuit during the first quarter worth approximately $29,000. Cornerstone Advisory LLC bought a new position in Intuit during the fourth quarter worth approximately $48,000. Finally, Motco bought a new position in Intuit during the first quarter worth approximately $45,000. 83.42% of the shares are currently held by institutional investors and hedge funds.

Analyst upgrades and downgrades

INTU has been the subject of a number of recent analyst reports. KeyCorp raised its price target on Intuit from $450.00 to $475.00 and gave the stock an “overweight” rating in a Monday, July 25 report. Oppenheimer reduced his target price on Intuit to $476.00 in a Wednesday, May 25 report. Bank of America reduced its target price on Intuit from $650.00 to $530.00 and placed a “buy” rating on the stock in a Wednesday, May 25 report. Goldman Sachs Group cut its price target on Intuit from $715.00 to $615.00 and set a “buy” rating on the stock in a Thursday, April 14 report. Finally, Wells Fargo & Company cut its price target on Intuit from $635.00 to $550.00 and set an “overweight” rating on the stock in a Wednesday, May 25 report. One analyst gave the stock a hold rating and twenty-one gave the company a buy rating. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $561.17.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $468.99 on Monday. The company has a debt ratio of 0.40, a current ratio of 1.63 and a quick ratio of 1.63. The stock’s fifty-day moving average price is $407.06 and its two-hundred-day moving average price is $444.25. Intuit Inc. has a one-year low of $339.36 and a one-year high of $716.86. The company has a market capitalization of $132.29 billion, a price/earnings ratio of 53.17, a P/E/G ratio of 3.15 and a beta of 1.18.

Intuit (NASDAQ:INTU – Get Rating) last released its results on Tuesday, May 24. The software maker reported earnings per share of $6.70 for the quarter, matching analyst consensus estimates of $6.70. The company posted revenue of $5.63 billion in the quarter, versus a consensus estimate of $5.51 billion. Intuit had a return on equity of 20.77% and a net margin of 19.44%. The company’s revenue increased by 35.0% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $5.45. On average, stock analysts expect Intuit Inc. to post an EPS of 8.22 for the current year.

Intuit announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 18. Investors of record on Monday July 11 received a dividend of $0.68 per share. The ex-dividend date was Friday, July 8. This represents an annualized dividend of $2.72 and a dividend yield of 0.58%. Intuit’s dividend payout ratio is currently 30.84%.

Insider buying and selling

Separately, Executive Vice Chairman James Alexander Chriss sold 984 shares of the company in a trade on Thursday, May 26. The stock was sold at an average price of $386.29, for a total transaction of $380,109.36. Following the completion of the sale, the executive vice president now directly owns 343 shares of the company, valued at approximately $132,497.47. The sale was disclosed in a filing with the SEC, which is available via this link. Separately, director Raul Vazquez sold 1,790 shares of the company in a trade on Thursday, June 23. The stock was sold at an average price of $390.37, for a total transaction of $698,762.30. Following the completion of the sale, the administrator now directly owns 2,019 shares of the company, valued at approximately $788,157.03. The sale was disclosed in a filing with the SEC, which is available via this link. Additionally, Executive Vice Chairman James Alexander Chriss sold 984 shares of the company in a trade dated Thursday, May 26. The stock was sold at an average price of $386.29, for a total value of $380,109.36. Following the completion of the transaction, the executive vice president now directly owns 343 shares of the company, valued at approximately $132,497.47. The disclosure of this sale can be found here. Insiders sold a total of 12,774 shares of the company worth $5,002,772 in the past ninety days. 3.27% of the shares are held by insiders.

Intuit Company Profile

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Intuit Inc provides financial management and compliance products and services to individuals, small businesses, self-employed individuals, and accounting professionals in the United States, Canada, and internationally. The Company operates in four segments: small business and self-employed, consumer, Credit Karma and ProConnect.

See also

Institutional ownership by quarter for Intuit (NASDAQ: INTU)



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