Flossbach Von Storch SE Reduces Holdings in Intuit Inc. (NASDAQ:INTU)

Flossbach Von Storch SE lowered its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 53.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 17,493 shares of the software maker's stock after selling 20,107 shares during the period. Flossbach Von Storch SE's holdings in Intuit were worth $10,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Trek Financial LLC increased its position in shares of Intuit by 33.4% in the 1st quarter. Trek Financial LLC now owns 1,790 shares of the software maker's stock worth $1,099,000 after purchasing an additional 448 shares during the last quarter. Personal CFO Solutions LLC increased its position in shares of Intuit by 5.8% in the 1st quarter. Personal CFO Solutions LLC now owns 3,118 shares of the software maker's stock worth $1,915,000 after purchasing an additional 170 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Intuit by 3.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 2,438 shares of the software maker's stock worth $1,497,000 after purchasing an additional 73 shares during the last quarter. Stratos Investment Management LLC increased its position in shares of Intuit by 5.9% in the 1st quarter. Stratos Investment Management LLC now owns 398 shares of the software maker's stock worth $245,000 after purchasing an additional 22 shares during the last quarter. Finally, Liberty One Investment Management LLC increased its position in shares of Intuit by 8.2% in the 1st quarter. Liberty One Investment Management LLC now owns 7,749 shares of the software maker's stock worth $4,758,000 after purchasing an additional 584 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Trading Down 0.3%

Shares of NASDAQ:INTU opened at $781.48 on Wednesday. The company has a 50 day moving average of $725.37 and a 200-day moving average of $644.37. The firm has a market cap of $217.99 billion, a P/E ratio of 63.43, a P/E/G ratio of 3.49 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 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 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during 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 period in the prior year, the business posted $9.88 EPS. As a group, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors 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 0.53%. Intuit's payout ratio is currently 33.77%.

Insiders Place Their Bets

In related news, EVP Mark P. Notarainni sold 1,147 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the sale, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. The trade was a 98.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 62,816 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the sale, the insider owned 6,000,679 shares in the company, valued at $4,596,460,107.21. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 278,252 shares of company stock worth $208,518,508. Company insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. Piper Sandler reissued an "overweight" rating and issued a $825.00 target price (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a report on Wednesday, April 23rd. Bank of America lifted their price target on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Susquehanna reaffirmed a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Finally, Morgan Stanley lifted their price target on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $798.27.

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.

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