Intuit Inc. (NASDAQ:INTU) Stock Holdings Decreased by Denali Advisors LLC

Denali Advisors LLC reduced its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 80.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,670 shares of the software maker's stock after selling 6,803 shares during the period. Denali Advisors LLC's holdings in Intuit were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Intuit in the fourth quarter worth about $2,290,419,000. GAMMA Investing LLC grew its position 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 worth $17,348,790,000 after acquiring an additional 2,821,534 shares in the last quarter. Nicholas Hoffman & Company LLC. purchased a new position in Intuit in the first quarter worth about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 acquiring an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Intuit by 13.3% in the fourth 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. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Richard L. Dalzell sold 333 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the sale, the director directly owned 15,474 shares of the company's stock, valued at approximately $11,890,685.82. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 2,591 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the sale, the chief financial officer directly owned 768 shares of the company's stock, valued at approximately $600,744.96. The trade was a 77.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent analyst reports. Citigroup restated a "buy" rating and set a $789.00 price objective (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research note on Wednesday, April 23rd. KeyCorp reissued an "overweight" rating and issued a $850.00 price objective (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. BMO Capital Markets set a $870.00 price target on Intuit and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group upped their price target on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $800.55.

Intuit Stock Performance

NASDAQ INTU traded up $1.47 during trading on Tuesday, reaching $765.16. The company's stock had a trading volume of 542,303 shares, compared to its average volume of 1,621,659. 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 cap of $213.44 billion, a price-to-earnings ratio of 62.11, a P/E/G ratio of 3.34 and a beta of 1.27. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $790.60. The business's fifty day moving average price is $743.99 and its 200-day moving average price is $650.97.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. 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 firm earned $9.88 earnings per share. The firm's revenue was up 15.1% on a year-over-year basis. As a group, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Thursday, July 10th. Intuit's payout ratio is currently 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.