Coldstream Capital Management Inc. Grows Holdings in Intuit Inc. (NASDAQ:INTU)

Coldstream Capital Management Inc. increased its position in Intuit Inc. (NASDAQ:INTU) by 10.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,487 shares of the software maker’s stock after acquiring an additional 589 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Intuit were worth $4,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Norges Bank purchased a new stake in Intuit in the 4th quarter worth approximately $2,101,848,000. Wellington Management Group LLP increased its holdings in Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC purchased a new stake in Intuit in the 4th quarter worth approximately $467,852,000. Parnassus Investments LLC increased its holdings in Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Finally, Capital World Investors increased its holdings in Intuit by 54.7% in the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock worth $735,480,000 after acquiring an additional 416,099 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The disclosure for this sale can be found here. Insiders sold a total of 41,308 shares of company stock worth $25,070,676 over the last three months. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada assumed coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. KeyCorp increased their price objective on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price objective (up from $760.00) on shares of Intuit in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Up 1.9 %

Shares of INTU opened at $626.99 on Tuesday. The company has a market cap of $175.74 billion, a PE ratio of 57.84, a P/E/G ratio of 3.00 and a beta of 1.24. The business has a fifty day moving average of $637.94 and a 200 day moving average of $632.08. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, sell-side analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.66%. Intuit’s dividend payout ratio (DPR) is currently 33.21%.

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.