New Republic Capital LLC Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

New Republic Capital LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 460 shares of the software maker’s stock after acquiring an additional 26 shares during the period. New Republic Capital LLC’s holdings in Intuit were worth $289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp raised its position in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Geode Capital Management LLC increased its stake in Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after acquiring an additional 80,463 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after purchasing an additional 87,517 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Intuit by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after buying an additional 26,914 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Finally, Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $586.84 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50-day simple moving average of $626.20 and a two-hundred day simple moving average of $631.66. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm has a market cap of $164.27 billion, a price-to-earnings ratio of 56.97, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24.

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

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Intuit 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.