Bredin Investment LLC Buys New Stake in Intuit Inc. (INTU)

Bredin Investment LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 3,275 shares of the software maker’s stock, valued at approximately $520,000.

Other institutional investors also recently made changes to their positions in the company. Exane Derivatives bought a new stake in Intuit during the 3rd quarter worth approximately $105,000. Horan Capital Advisors LLC. bought a new stake in Intuit during the 3rd quarter worth approximately $114,000. ETF Managers Group LLC bought a new stake in Intuit during the 2nd quarter worth approximately $140,000. Highstreet Asset Management Inc. bought a new stake in Intuit during the 3rd quarter worth approximately $159,000. Finally, BB&T Investment Services Inc. bought a new stake in Intuit during the 2nd quarter worth approximately $160,000. 86.11% of the stock is currently owned by institutional investors.

Intuit Inc. (NASDAQ INTU) opened at $168.67 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.67 and a current ratio of 0.67. Intuit Inc. has a 1 year low of $111.90 and a 1 year high of $168.80. The stock has a market cap of $42,882.71, a price-to-earnings ratio of 44.74, a P/E/G ratio of 3.02 and a beta of 1.18.

Intuit (NASDAQ:INTU) last released its earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. During the same quarter in the previous year, the company earned $0.06 EPS. Intuit’s quarterly revenue was up 13.9% compared to the same quarter last year. research analysts expect that Intuit Inc. will post 3.95 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Wednesday, January 10th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.92%. Intuit’s payout ratio is presently 41.38%.

In related news, Chairman Scott D. Cook sold 183,334 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $151.46, for a total transaction of $27,767,767.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Scott D. Cook sold 112,731 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $160.97, for a total transaction of $18,146,309.07. The disclosure for this sale can be found here. Insiders have sold a total of 965,938 shares of company stock worth $149,469,127 in the last quarter. 5.59% of the stock is owned by corporate insiders.

INTU has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Intuit from $141.00 to $160.00 and gave the stock a “sector perform” rating in a report on Thursday, November 16th. Citigroup boosted their target price on shares of Intuit to $170.00 in a report on Tuesday, November 21st. Raymond James Financial lowered shares of Intuit from a “market perform” rating to an “underperform” rating in a report on Wednesday, September 27th. Oppenheimer boosted their target price on shares of Intuit from $146.00 to $159.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $157.53.

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Intuit Company Profile

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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