Intuit Inc. (NASDAQ:INTU) Holdings Trimmed by KBC Group NV

KBC Group NV lowered its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 52.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,103 shares of the software maker's stock after selling 75,711 shares during the quarter. KBC Group NV's holdings in Intuit were worth $41,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Intuit during the 4th quarter worth about $2,290,419,000. GAMMA Investing LLC raised its stake in shares of Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after acquiring an additional 2,821,534 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Intuit by 33.5% in the 4th 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 valued at $1,930,765,000 after acquiring an additional 771,232 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Finally, Unisphere Establishment raised its stake in shares of Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after acquiring an additional 500,000 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent analyst reports. Wells Fargo & Company set a $880.00 price target on Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Morgan Stanley reaffirmed an "overweight" rating and issued a $785.00 price target (up previously from $720.00) on shares of Intuit in a research note on Friday, May 23rd. Mizuho boosted their price objective on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $850.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $793.05.

Intuit Stock Up 0.5%

Shares of Intuit stock opened at $776.57 on Monday. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $787.22. The business has a 50-day moving average of $700.54 and a two-hundred day moving average of $638.14. The company has a market capitalization of $216.62 billion, a P/E ratio of 63.03, a price-to-earnings-growth ratio of 3.45 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. Intuit'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 firm earned $9.88 earnings per share. As a group, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 469 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at $13,775. This represents a 96.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 272,896 shares of company stock valued at $204,351,942. Insiders own 2.68% of the company's stock.

Intuit Company 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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