Insigneo Advisory Services LLC Has $923,000 Position in Intuit Inc. (NASDAQ:INTU)

Insigneo Advisory Services LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 30.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,503 shares of the software maker's stock after selling 651 shares during the period. Insigneo Advisory Services LLC's holdings in Intuit were worth $923,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of INTU. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after acquiring an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC bought a new stake in Intuit during the 4th quarter worth approximately $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Intuit in the fourth quarter worth approximately $237,244,000. Alberta Investment Management Corp bought a new position in shares of Intuit in the fourth quarter valued at approximately $10,757,000. Finally, Aigen Investment Management LP purchased a new position in shares of Intuit during the fourth quarter valued at approximately $2,958,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $764.90 on Wednesday. The firm has a market capitalization of $213.37 billion, a PE ratio of 62.09, a P/E/G ratio of 3.42 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $672.69 and a two-hundred day moving average price of $632.02. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45.

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 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 the consensus estimate of $7.56 billion. During the same period last year, the firm earned $9.88 EPS. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is presently 33.77%.

Analyst Ratings Changes

INTU has been the topic of several recent analyst reports. Evercore ISI raised their price objective on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and issued a $850.00 target price (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. The Goldman Sachs Group boosted their price target on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Finally, Barclays reissued an "overweight" rating and set a $815.00 target price (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $787.95.

Insider Activity

In other Intuit news, 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 transaction, the executive vice president now directly owns 19 shares in the company, valued at $13,775. This represents a 96.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. Insiders have sold a total of 288,408 shares of company stock worth $213,441,865 over the last ninety days. Company insiders own 2.68% of the company's stock.

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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