Blair William & Co. IL Sells 109,813 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Blair William & Co. IL reduced its holdings in Intuit by 30%, selling 109,813 shares, and now holds around 255,705 shares valued at approximately $157 million.
• Intuit reported earnings per share (EPS) of $11.65, exceeding estimates, with quarterly revenue reaching $7.75 billion, up 15.1% year over year.
• Institutional investors own 83.66% of Intuit's stock, highlighting strong interest among large investors, while various firms have set new price objectives ranging from $750 to $880.

Blair William & Co. IL cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 30.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,705 shares of the software maker's stock after selling 109,813 shares during the quarter. Blair William & Co. IL owned approximately 0.09% of Intuit worth $157,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of INTU. GAMMA Investing LLC grew its stake 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 purchasing an additional 2,821,534 shares during the last quarter. Nicholas Hoffman & Company LLC. bought a new stake in shares of Intuit in the first quarter worth about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 worth $1,930,765,000 after purchasing an additional 771,232 shares during the last quarter. Unisphere Establishment grew its stake in shares of Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

INTU stock opened at $776.15 on Friday. The stock has a market capitalization of $216.51 billion, a PE ratio of 63.00, a price-to-earnings-growth ratio of 3.44 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. 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 stock's 50 day simple moving average is $767.11 and its 200 day simple moving average is $662.02.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data 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 business had revenue of $7.75 billion for 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 firm posted $9.88 EPS. As a group, research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal 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 paid a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.5%. Intuit's payout ratio is currently 33.77%.

Analysts Set New Price Targets

Several research firms have weighed in on INTU. The Goldman Sachs Group lifted their price objective on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research report on Monday, May 19th. 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. Citigroup reaffirmed a "buy" rating and set a $789.00 price objective (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. BMO Capital Markets lifted 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. Finally, Evercore ISI lifted their price objective on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $806.27.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the sale, the chief accounting officer directly owned 455 shares in the company, valued at approximately $356,760.95. The trade was a 79.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 882 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is owned by corporate insiders.

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.

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