Calton & Associates Inc. Increases Stake in Intuit Inc. (INTU)

Calton & Associates Inc. grew its position in Intuit Inc. (NASDAQ:INTU) by 14.4% during the first quarter, HoldingsChannel.com reports. The firm owned 2,687 shares of the software maker’s stock after acquiring an additional 338 shares during the period. Calton & Associates Inc.’s holdings in Intuit were worth $703,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Financial Advantage Inc. purchased a new stake in shares of Intuit in the first quarter worth about $26,000. CX Institutional boosted its stake in shares of Intuit by 85.5% in the first quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $27,000 after buying an additional 47 shares during the last quarter. Athena Capital Advisors LLC purchased a new stake in shares of Intuit in the fourth quarter worth about $28,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Intuit in the first quarter worth about $28,000. Finally, We Are One Seven LLC purchased a new stake in shares of Intuit in the fourth quarter worth about $33,000. 87.70% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on the company. Exane BNP Paribas assumed coverage on Intuit in a research note on Friday, March 29th. They issued an “underperform” rating and a $200.00 target price on the stock. Royal Bank of Canada upped their target price on Intuit from $274.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Bank of America restated a “buy” rating and issued a $264.00 target price (up previously from $252.00) on shares of Intuit in a research note on Wednesday, March 6th. KeyCorp upped their target price on Intuit from $255.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, BidaskClub downgraded Intuit from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Intuit presently has a consensus rating of “Hold” and an average target price of $241.00.

In other news, EVP James Alexander Chriss sold 923 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $247.10, for a total value of $228,073.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 67,488 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $251.43, for a total value of $16,968,507.84. Following the completion of the transaction, the executive vice president now owns 95,102 shares in the company, valued at approximately $23,911,495.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,609 shares of company stock worth $22,757,853. Company insiders own 4.60% of the company’s stock.

Shares of INTU stock opened at $263.84 on Friday. The company has a market cap of $68.40 billion, a price-to-earnings ratio of 58.24, a price-to-earnings-growth ratio of 3.09 and a beta of 1.19. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.13. Intuit Inc. has a 12-month low of $180.75 and a 12-month high of $272.14.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 21st. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.44. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Intuit had a return on equity of 53.70% and a net margin of 22.89%. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, research analysts predict that Intuit Inc. will post 5.31 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.88 annualized dividend and a dividend yield of 0.71%. Intuit’s dividend payout ratio (DPR) is presently 41.50%.

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Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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