Lannebo Fonder AB Has $17.83 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Lannebo Fonder AB boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 26.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,500 shares of the software maker’s stock after acquiring an additional 16,000 shares during the quarter. Intuit accounts for 5.0% of Lannebo Fonder AB’s portfolio, making the stock its 6th biggest holding. Lannebo Fonder AB’s holdings in Intuit were worth $17,825,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of INTU. Atlas Private Wealth Management purchased a new stake in Intuit during the fourth quarter valued at approximately $26,000. Laurel Wealth Advisors LLC boosted its stake in shares of Intuit by 50.0% during the 1st quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Virtus ETF Advisers LLC bought a new stake in shares of Intuit during the 4th quarter valued at $31,000. Cognios Capital LLC purchased a new stake in shares of Intuit in the 1st quarter worth $32,000. Finally, Ameritas Investment Company LLC raised its holdings in Intuit by 958.3% in the 4th quarter. Ameritas Investment Company LLC now owns 127 shares of the software maker’s stock worth $33,000 after purchasing an additional 115 shares during the period. 86.39% of the stock is currently owned by institutional investors.

Shares of Intuit stock traded down $2.39 during trading on Friday, reaching $287.61. 1,738,172 shares of the stock traded hands, compared to its average volume of 1,095,271. Intuit Inc. has a 52-week low of $187.68 and a 52-week high of $306.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.67 and a quick ratio of 1.67. The business has a fifty day simple moving average of $262.98 and a two-hundred day simple moving average of $266.23. The company has a market capitalization of $75.54 billion, a price-to-earnings ratio of 56.73, a P/E/G ratio of 3.89 and a beta of 1.05.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.60 by ($0.11). Intuit had a net margin of 19.50% and a return on equity of 34.27%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the company posted $5.55 earnings per share. Intuit’s quarterly revenue was down 8.3% on a year-over-year basis. On average, research analysts predict that Intuit Inc. will post 5.85 earnings per share for the current fiscal year.

A number of analysts have commented on the company. Mizuho upped their price target on Intuit from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp increased their target price on shares of Intuit from $285.00 to $315.00 and gave the stock an “overweight” rating in a report on Tuesday. Jefferies Financial Group lifted their price target on shares of Intuit from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday. Bank of America upped their price target on shares of Intuit from $270.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus decreased their price objective on shares of Intuit from $315.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $306.00.

Intuit 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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