Intuit Inc. (NASDAQ:INTU) Shares Purchased by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG raised its stake in Intuit Inc. (NASDAQ:INTU) by 24.6% in the first quarter, HoldingsChannel reports. The fund owned 3,238 shares of the software maker’s stock after purchasing an additional 640 shares during the period. J. Safra Sarasin Holding AG’s holdings in Intuit were worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of INTU. Brighton Jones LLC lifted its holdings in Intuit by 61.3% in the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock valued at $2,233,000 after acquiring an additional 1,350 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Intuit by 145.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock valued at $511,000 after acquiring an additional 482 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of Intuit by 14.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker’s stock valued at $1,252,000 after buying an additional 248 shares in the last quarter. World Investment Advisors increased its position in shares of Intuit by 206.8% in the fourth quarter. World Investment Advisors now owns 994 shares of the software maker’s stock valued at $625,000 after buying an additional 670 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its position in shares of Intuit by 73.0% in the fourth quarter. Arete Wealth Advisors LLC now owns 934 shares of the software maker’s stock valued at $587,000 after buying an additional 394 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,738 shares of the company’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the transaction, the chief accounting officer owned 455 shares of the company’s stock, valued at $356,760.95. This represents a 79.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 882 shares of the company’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total value of $689,397.66. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock worth $209,725,054 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the company an “overweight” rating in a research report on Friday, June 13th. BMO Capital Markets boosted their price objective on Intuit from $820.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, July 10th. Morgan Stanley boosted their price objective on Intuit from $785.00 to $900.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Finally, UBS Group set a $750.00 price objective on Intuit and gave the company a “neutral” rating in a research report on Friday, May 23rd. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $806.27.

Intuit Stock Down 1.1%

Shares of NASDAQ:INTU opened at $776.15 on Monday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $767.11 and a two-hundred day moving average of $662.40. The stock has a market cap of $216.51 billion, a P/E ratio of 63.00, a PEG ratio of 2.99 and a beta of 1.28. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70.

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

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio is presently 33.77%.

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.