Iyo Bank Ltd. Purchases 2,050 Shares of Intuit Inc. (NASDAQ:INTU)

Iyo Bank Ltd. lifted its position in Intuit Inc. (NASDAQ:INTU) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,353 shares of the software maker’s stock after buying an additional 2,050 shares during the quarter. Intuit comprises 2.2% of Iyo Bank Ltd.’s investment portfolio, making the stock its 18th largest holding. Iyo Bank Ltd.’s holdings in Intuit were worth $6,971,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in INTU. Brighton Jones LLC grew its stake in shares of Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock valued at $2,233,000 after buying an additional 1,350 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after purchasing an additional 482 shares during the period. Bank Pictet & Cie Europe AG boosted its position in Intuit by 14.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker’s stock worth $1,252,000 after purchasing an additional 248 shares during the period. FIL Ltd boosted its position in Intuit by 38.9% during the fourth quarter. FIL Ltd now owns 1,592 shares of the software maker’s stock worth $1,001,000 after purchasing an additional 446 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in Intuit by 14.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 26,040 shares of the software maker’s stock worth $16,370,000 after purchasing an additional 3,377 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $706.09 on Tuesday. The business has a fifty day simple moving average of $768.10 and a 200 day simple moving average of $668.87. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $196.96 billion, a price-to-earnings ratio of 57.31, a PEG ratio of 2.89 and a beta of 1.28. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70.

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, beating analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the prior year, the business posted $9.88 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. Sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio is 33.77%.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent analyst reports. KeyCorp reaffirmed an “overweight” rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Evercore ISI upped their target price on Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a research report on Friday, May 23rd. CLSA initiated coverage on Intuit in a research report on Thursday, June 26th. They set an “outperform” rating and a $900.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $806.27.

Insider Transactions at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the sale, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 2,591 shares of the company’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the completion of the sale, the chief financial officer owned 768 shares in the company, valued at $600,744.96. This trade represents a 77.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by insiders.

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.