Oak Ridge Investments LLC Has $4.66 Million Stock Position in Intuit Inc. (NASDAQ:INTU)
Oak Ridge Investments LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,240 shares of the software maker’s stock after selling 131 shares during the period. Oak Ridge Investments LLC’s holdings in Intuit were worth $4,655,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Vestcor Investment Management Corp acquired a new position in Intuit during the fourth quarter valued at $10,304,000. Alyeska Investment Group L.P. acquired a new position in Intuit during the fourth quarter valued at $4,066,000. Amalgamated Bank raised its position in Intuit by 3.8% during the fourth quarter. Amalgamated Bank now owns 43,096 shares of the software maker’s stock valued at $11,288,000 after buying an additional 1,572 shares during the period. Independent Advisor Alliance raised its position in Intuit by 6.3% during the fourth quarter. Independent Advisor Alliance now owns 1,415 shares of the software maker’s stock valued at $371,000 after buying an additional 84 shares during the period. Finally, Watchman Group Inc. acquired a new position in Intuit in the 4th quarter worth about $3,594,000. 86.17% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:INTU traded up $2.32 during mid-day trading on Wednesday, hitting $289.50. 614,115 shares of the company’s stock traded hands, compared to its average volume of 1,175,395. The firm has a 50 day moving average of $274.54 and a two-hundred day moving average of $267.93. Intuit Inc. has a 12 month low of $187.68 and a 12 month high of $306.89. The firm has a market capitalization of $75.61 billion, a price-to-earnings ratio of 56.51, a price-to-earnings-growth ratio of 3.67 and a beta of 1.05. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.01.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Friday, July 10th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, July 9th. This represents a $2.12 annualized dividend and a yield of 0.73%. Intuit’s payout ratio is 37.99%.
In related news, SVP Kerry J. Mclean sold 18,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $287.09, for a total transaction of $5,167,620.00. Following the completion of the sale, the senior vice president now owns 23,399 shares in the company, valued at approximately $6,717,618.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James Alexander Chriss sold 337 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $291.10, for a total value of $98,100.70. Following the sale, the executive vice president now owns 220 shares of the company’s stock, valued at approximately $64,042. The disclosure for this sale can be found here. 4.09% of the stock is owned by corporate insiders.
Several brokerages have weighed in on INTU. Guggenheim reiterated a “” rating and set a $320.00 price target (up previously from $300.00) on shares of Intuit in a research report on Friday, May 22nd. KeyCorp upped their target price on Intuit from $285.00 to $315.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. UBS Group upped their target price on Intuit from $285.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their target price on Intuit from $268.00 to $249.00 and set an “underweight” rating on the stock in a research report on Thursday, March 26th. Finally, Bank of America upped their target price on Intuit from $270.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $306.00.
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.
Featured Article: Cost of Debt
Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.