Bridges Investment Management Inc. Has $19.60 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Bridges Investment Management Inc. lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,918 shares of the software maker’s stock after buying an additional 411 shares during the period. Bridges Investment Management Inc.’s holdings in Intuit were worth $19,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of INTU. Brighton Jones LLC lifted its position in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after purchasing an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock valued at $511,000 after purchasing an additional 482 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of Intuit by 14.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker’s stock valued at $1,252,000 after purchasing an additional 248 shares during the period. Proficio Capital Partners LLC grew its position in Intuit by 78.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,693 shares of the software maker’s stock worth $1,064,000 after acquiring an additional 746 shares during the last quarter. Finally, Edgestream Partners L.P. grew its position in Intuit by 41.2% during the 4th quarter. Edgestream Partners L.P. now owns 2,298 shares of the software maker’s stock worth $1,444,000 after acquiring an additional 671 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Down 0.5%

INTU stock traded down $3.88 during midday trading on Wednesday, hitting $777.61. The stock had a trading volume of 132,535 shares, compared to its average volume of 1,614,388. The firm has a market cap of $216.91 billion, a P/E ratio of 63.11, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The business has a fifty day moving average price of $725.37 and a two-hundred day moving average price of $644.37.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the business posted $9.88 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s payout ratio is 33.77%.

Insider Transactions at Intuit

In other news, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the sale, the executive vice president owned 40,767 shares of the company’s stock, valued at approximately $31,017,164.28. The trade was a 45.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the transaction, the executive vice president directly owned 22,796 shares of the company’s stock, valued at $17,148,291. The trade was a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 278,252 shares of company stock worth $208,518,508. 2.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research analyst reports. Susquehanna restated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the company a “buy” rating in a research report on Friday, May 23rd. Hsbc Global Res upgraded shares of Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Finally, CLSA began coverage on Intuit in a report on Thursday, June 26th. They set an “outperform” rating and a $900.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $798.27.

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.