Achmea Investment Management B.V. Buys 9,604 Shares of Intuit Inc. (NASDAQ:INTU)

Achmea Investment Management B.V. increased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 22.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,143 shares of the software maker's stock after buying an additional 9,604 shares during the quarter. Achmea Investment Management B.V.'s holdings in Intuit were worth $32,015,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Norges Bank bought a new position in Intuit in the fourth quarter worth $2,290,419,000. GAMMA Investing LLC increased its stake in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after acquiring an additional 2,821,534 shares during the period. Proficio Capital Partners LLC boosted its holdings in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 buying an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position 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 worth $3,329,115,000 after buying an additional 620,559 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction dated 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. This trade represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at $13,775. The trade was a 96.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 271,158 shares of company stock valued at $202,989,194 over the last three months. Company insiders own 2.68% of the company's stock.

Intuit Price Performance

Shares of INTU opened at $772.86 on Friday. The stock has a 50 day simple moving average of $696.71 and a 200 day simple moving average of $637.71. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $774.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $215.59 billion, a PE ratio of 62.73, a P/E/G ratio of 3.37 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly 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 net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the company earned $9.88 earnings per share. The business's quarterly revenue was up 15.1% compared to the same quarter last year. Sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. Intuit's dividend payout ratio (DPR) is 33.77%.

Analysts Set New Price Targets

A number of brokerages have issued reports on INTU. Evercore ISI lifted their price objective on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and set a $789.00 price objective (up from $726.00) on shares of Intuit in a research note on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. 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. Finally, Piper Sandler reiterated an "overweight" rating and set a $825.00 price target (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $793.05.

About Intuit

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.

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