Lee Danner & Bass Inc. Purchases New Position in Intuit Inc. (NASDAQ:INTU)

Lee Danner & Bass Inc. purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 361 shares of the software maker’s stock, valued at approximately $226,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Intuit by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after purchasing an additional 117,478 shares during the last quarter. FMR LLC lifted its holdings in Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after purchasing an additional 266,803 shares during the last quarter. Morgan Stanley lifted its holdings in Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after purchasing an additional 137,198 shares during the last quarter. Northern Trust Corp raised its stake in shares of Intuit by 5.2% in the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock worth $1,641,533,000 after acquiring an additional 160,229 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Intuit by 6.6% in the third quarter. Invesco Ltd. now owns 3,091,645 shares of the software maker’s stock worth $1,579,645,000 after acquiring an additional 190,582 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Up 0.8 %

Shares of NASDAQ INTU opened at $609.77 on Tuesday. The stock has a market cap of $170.74 billion, a P/E ratio of 62.22, a P/E/G ratio of 3.68 and a beta of 1.21. The firm has a 50 day moving average price of $641.98 and a 200 day moving average price of $600.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 earnings per share. Analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays boosted their target price on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Oppenheimer boosted their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Stifel Nicolaus boosted their target price on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, KeyCorp boosted their target price on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $645.00.

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 over the last quarter. 2.90% of the stock is currently owned by company insiders.

Intuit Company 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.