Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Intuit Inc. by 3.4% during the first quarter, owning 58,540 shares valued at approximately $35.94 million.
• Equity analysts have revised their ratings and price targets for Intuit, with Oppenheimer raising its target from $742 to $868 and multiple others recommending "outperform" or "strong buy" ratings.
• Intuit recently reported a quarterly EPS of $11.65, surpassing analyst expectations, and announced a quarterly dividend of $1.04 per share, yielding 0.6% annually.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,540 shares of the software maker's stock after purchasing an additional 1,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Intuit were worth $35,943,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Intuit by 1.2% during the 1st quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock valued at $1,890,282,000 after buying an additional 36,513 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Intuit by 4.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker's stock worth $1,130,718,000 after buying an additional 82,419 shares in the last quarter. Pinnacle Financial Partners Inc increased its stake in Intuit by 3.6% in the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after buying an additional 623 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in Intuit in the 4th quarter worth $109,988,000. Finally, Malaga Cove Capital LLC increased its stake in Intuit by 110.6% in the 1st quarter. Malaga Cove Capital LLC now owns 874 shares of the software maker's stock worth $537,000 after buying an additional 459 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on INTU shares. Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. CLSA started coverage on Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price objective for the company. Oppenheimer raised their price objective on Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Evercore ISI raised their price objective on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 price objective on Intuit and gave the company an "overweight" rating in a research report on Friday, June 13th. One investment 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $809.86.

Intuit Trading Up 0.9%

NASDAQ:INTU traded up $6.10 during midday trading on Friday, hitting $716.74. The stock had a trading volume of 1,751,380 shares, compared to its average volume of 1,630,457. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70. The company has a market capitalization of $199.93 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 2.76 and a beta of 1.28. The stock has a 50-day moving average of $763.75 and a 200 day moving average of $671.53. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last issued 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. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.88 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.6%. Intuit's dividend payout ratio is presently 33.77%.

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the sale, the executive vice president directly owned 23,101 shares of the company's stock, valued at $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the sale, the executive vice president directly owned 22,796 shares in the company, valued at $17,148,291. This trade represents a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,800 shares of company stock valued at $209,725,054. Corporate 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.