Intuit Inc. (NASDAQ:INTU) Shares Acquired by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich boosted its stake in Intuit Inc. (NASDAQ:INTU) by 0.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 260,609 shares of the software maker’s stock after acquiring an additional 220 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.09% of Intuit worth $175,135,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Intuit during the fourth quarter worth $2,290,419,000. GAMMA Investing LLC increased its position in shares of Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares in the last quarter. Nicholas Hoffman & Company LLC. purchased a new stake in Intuit in the 1st quarter worth about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after purchasing an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 0.1%

INTU stock traded up $0.40 on Tuesday, hitting $764.09. 287,039 shares of the company’s stock were exchanged, compared to its average volume of 1,620,646. The firm has a 50 day moving average price of $743.99 and a two-hundred day moving average price of $650.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60. The stock has a market cap of $213.14 billion, a P/E ratio of 62.08, a price-to-earnings-growth ratio of 3.34 and a beta of 1.27.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $9.88 EPS. As a group, equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Thursday, July 10th. Intuit’s payout ratio is 33.77%.

Insider Buying and Selling

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares in the company, valued at $31,017,164.28. This represents a 45.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the sale, the chief financial officer owned 197 shares of the company’s stock, valued at approximately $143,047.61. This represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 over the last three months. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Citigroup reaffirmed a “buy” rating and issued a $789.00 target price (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. UBS Group set a $750.00 target price on Intuit and gave the company a “neutral” rating in a research report on Friday, May 23rd. Finally, The Goldman Sachs Group raised their price target on Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $800.55.

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.