China Universal Asset Management Co. Ltd. Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

China Universal Asset Management Co. Ltd. boosted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,905 shares of the software maker's stock after acquiring an additional 962 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Intuit were worth $4,240,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in INTU. Brighton Jones LLC raised its position in Intuit by 61.3% in the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after acquiring an additional 1,350 shares during the period. Revolve Wealth Partners LLC raised its position in Intuit by 145.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after acquiring an additional 482 shares during the period. Bank Pictet & Cie Europe AG raised 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 purchasing an additional 248 shares during the period. Proficio Capital Partners LLC raised its position in shares of Intuit by 78.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,693 shares of the software maker's stock valued at $1,064,000 after purchasing an additional 746 shares during the period. Finally, Edgestream Partners L.P. raised its position in shares of Intuit by 41.2% in the fourth quarter. Edgestream Partners L.P. now owns 2,298 shares of the software maker's stock valued at $1,444,000 after purchasing an additional 671 shares during the period. Institutional investors own 83.66% of the company's stock.

Insider Buying and Selling

In other news, 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 of the company's stock, valued at approximately $600,744.96. This represents a 77.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,738 shares of the company'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 of the company's stock, valued at $356,760.95. This trade represents a 79.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 278,252 shares of company stock worth $208,518,508 in the last ninety days. 2.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on INTU shares. Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the company an "overweight" rating in a research report on Friday, June 13th. Stifel Nicolaus boosted their price target on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. KeyCorp reissued an "overweight" rating and issued a $850.00 price target (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $820.00 price target (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $798.27.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $2.13 during trading on Tuesday, reaching $781.48. The company had a trading volume of 1,291,852 shares, compared to its average volume of 1,620,230. The company has a fifty day moving average of $722.21 and a two-hundred day moving average of $643.41. The stock has a market capitalization of $217.99 billion, a P/E ratio of 63.43, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.88 EPS. Equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm 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. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. Intuit's dividend payout ratio (DPR) is 33.77%.

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.