Intuit Inc. (NASDAQ:INTU) Shares Bought by LGT Group Foundation

Key Points

• LGT Group Foundation increased its holdings in Intuit Inc. by 88.1%, now owning 91,301 shares valued at $56.1 million at the end of the first quarter.
• Recent trades revealed significant insider activity, with CAO Lauren D. Hotz selling 1,738 shares and Director Richard L. Dalzell selling 333 shares, indicating a decreased ownership stake in the company.
• Intuit's stock has experienced a 5.7% decline, with current trading around $706.09, while analysts maintain a consensus rating of "Moderate Buy" and a price target of approximately $806.27.

LGT Group Foundation grew its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 88.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 91,301 shares of the software maker's stock after acquiring an additional 42,765 shares during the quarter. LGT Group Foundation's holdings in Intuit were worth $56,058,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares during the last quarter. Nuveen LLC acquired a new position in shares of Intuit during the first quarter worth about $882,031,000. Nicholas Hoffman & Company LLC. purchased a new position in shares of Intuit during the 1st quarter worth approximately $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Intuit by 33.5% in the fourth 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 worth $1,930,765,000 after acquiring an additional 771,232 shares in the last quarter. Finally, Unisphere Establishment lifted its stake in shares of Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after purchasing an additional 500,000 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the sale, the chief accounting officer directly owned 455 shares of the company's stock, valued at $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard L. Dalzell sold 333 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the transaction, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 279,800 shares of company stock valued at $209,725,054. Corporate insiders own 2.68% of the company's stock.

Intuit Trading Down 5.7%

Intuit stock opened at $706.09 on Tuesday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $196.96 billion, a PE ratio of 57.31, a price-to-earnings-growth ratio of 2.89 and a beta of 1.28. The firm has a 50 day simple moving average of $768.10 and a 200-day simple moving average of $668.87.

Intuit (NASDAQ:INTU - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.88 EPS. As a group, equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on INTU shares. Barclays reissued an "overweight" rating and issued a $815.00 price objective (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley raised their price target on shares of Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. KeyCorp reiterated an "overweight" rating and issued a $850.00 price target (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $806.27.

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.

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.