AustralianSuper Pty Ltd Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

AustralianSuper Pty Ltd decreased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 68.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,132 shares of the software maker's stock after selling 188,906 shares during the period. AustralianSuper Pty Ltd's holdings in Intuit were worth $53,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Copia Wealth Management acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. Summit Securities Group LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. VSM Wealth Advisory LLC bought a new position in Intuit in the 4th quarter worth approximately $35,000. Finally, Olde Wealth Management LLC bought a new position in Intuit in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In other news, EVP Mark P. Notarainni sold 1,147 shares of the stock in a transaction 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 $14,704.10. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the transaction, the director owned 15,474 shares of the company's stock, valued at approximately $11,890,685.82. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 in the last quarter. Insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INTU shares. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a report on Wednesday, April 23rd. Barclays reissued an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. Finally, Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $800.55.

Intuit Trading Down 0.4%

Intuit stock traded down $2.74 during trading hours on Friday, reaching $752.63. The stock had a trading volume of 1,504,966 shares, compared to its average volume of 1,626,739. The stock has a market cap of $209.95 billion, a PE ratio of 61.09, a PEG ratio of 3.34 and a beta of 1.27. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $790.60. 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 company has a fifty day simple moving average of $743.99 and a 200-day simple moving average of $650.77.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $9.88 earnings per share. Analysts forecast 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. Shareholders of record on Thursday, July 10th were issued 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 yield of 0.55%. Intuit's dividend payout ratio is currently 33.77%.

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.