Raleigh Capital Management Inc. Grows Stock Position in Intuit Inc. (NASDAQ:INTU)

Raleigh Capital Management Inc. raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 393 shares of the software maker’s stock after purchasing an additional 28 shares during the period. Raleigh Capital Management Inc.’s holdings in Intuit were worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Northwest Investment Counselors LLC acquired a new stake in Intuit during the third quarter worth approximately $27,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit during the fourth quarter worth $29,000. Denver PWM LLC purchased a new stake in shares of Intuit in the third quarter valued at $32,000. Dunhill Financial LLC increased its stake in Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares during the last quarter. Finally, Groupama Asset Managment lifted its position in Intuit by 10.6% during the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after buying an additional 720 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Down 2.2 %

Shares of INTU stock opened at $598.30 on Friday. The stock has a 50 day moving average of $640.53 and a 200-day moving average of $635.79. The firm has a market cap of $167.48 billion, a PE ratio of 58.09, a price-to-earnings-growth ratio of 3.00 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

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

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio is currently 40.39%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Stifel Nicolaus decreased their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. Finally, Morgan Stanley upped their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Company 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.