Intuit Inc. (NASDAQ:INTU) Shares Sold by BTC Capital Management Inc.

BTC Capital Management Inc. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,333 shares of the software maker’s stock after selling 716 shares during the quarter. BTC Capital Management Inc.’s holdings in Intuit were worth $7,572,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of INTU. Norges Bank acquired a new stake in Intuit during the 4th quarter valued at approximately $2,290,419,000. GAMMA Investing LLC grew its position in shares of Intuit by 69,701.9% in the 1st 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. Proficio Capital Partners LLC grew its position in shares of Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after acquiring an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intuit by 33.5% in the 4th 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 worth $1,930,765,000 after acquiring an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Down 0.7%

Shares of Intuit stock opened at $752.04 on Friday. The business’s fifty day moving average price is $630.69 and its two-hundred day moving average price is $623.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $210.24 billion, a P/E ratio of 73.01, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $761.02.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the business earned $9.88 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio is presently 33.77%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price for the company in a research report on Wednesday, April 23rd. Mizuho lifted their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Barclays reiterated an “overweight” rating and issued a $815.00 target price (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Stifel Nicolaus lifted their target price on Intuit from $725.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Finally, UBS Group set a $750.00 target price on Intuit and gave the stock a “neutral” rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $785.33.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the transaction, the executive vice president now directly owns 22,796 shares in the company, valued at $17,148,291. The trade was a 52.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,804 shares of company stock valued at $138,081,963. Corporate insiders own 2.68% of the company’s stock.

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.