Intuit Inc. (NASDAQ:INTU) Holdings Lowered by Allianz SE

Key Points

• Allianz SE has reduced its holdings in Intuit Inc. by 2.6% in the first quarter, now owning 16,892 shares valued at over $10 million.
• Intuit reported a quarterly revenue of $7.75 billion, beating estimates and showing a 15.1% year-over-year increase in revenue.
• Analyst reports show a consensus rating of "Moderate Buy" for Intuit, with price targets ranging from $815 to $900.

Allianz SE trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,892 shares of the software maker's stock after selling 451 shares during the period. Allianz SE's holdings in Intuit were worth $10,372,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Raiffeisen Bank International AG increased its position in Intuit by 20.8% in the 1st quarter. Raiffeisen Bank International AG now owns 15,212 shares of the software maker's stock worth $9,111,000 after purchasing an additional 2,615 shares during the last quarter. Manchester Capital Management LLC increased its holdings in shares of Intuit by 17.4% during the 1st quarter. Manchester Capital Management LLC now owns 613 shares of the software maker's stock valued at $377,000 after acquiring an additional 91 shares during the last quarter. CCLA Investment Management increased its holdings in shares of Intuit by 2.0% during the 1st quarter. CCLA Investment Management now owns 206,633 shares of the software maker's stock valued at $126,827,000 after acquiring an additional 3,995 shares during the last quarter. Liberty Wealth Management LLC increased its holdings in shares of Intuit by 1,595.7% during the 1st quarter. Liberty Wealth Management LLC now owns 34,219 shares of the software maker's stock valued at $21,010,000 after acquiring an additional 32,201 shares during the last quarter. Finally, J. Safra Sarasin Holding AG grew its holdings in Intuit by 24.6% in the 1st quarter. J. Safra Sarasin Holding AG now owns 3,238 shares of the software maker's stock valued at $1,988,000 after buying an additional 640 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on INTU. Barclays reaffirmed an "overweight" rating and issued a $815.00 target price (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. BMO Capital Markets raised their price objective on Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. CLSA initiated coverage on Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price objective for the company. Finally, Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. One research 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $806.27.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $776.15 on Friday. The stock has a 50 day moving average price of $767.11 and a 200 day moving average price of $662.02. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $813.70. 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 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 (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, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the firm posted $9.88 earnings per share. The business's quarterly revenue was up 15.1% compared to the same quarter last year. Analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

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 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Buying and Selling

In other news, Director Richard L. Dalzell sold 333 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director directly owned 15,474 shares of the company's stock, valued at $11,890,685.82. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark P. Notarainni sold 1,147 shares of the firm'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 completion of the sale, the executive vice president directly owned 19 shares of the company's stock, valued at approximately $14,704.10. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,800 shares of company stock valued at $209,725,054. Insiders own 2.68% of the company's stock.

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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