Intuit Inc. (NASDAQ:INTU) Shares Sold by Ithaka Group LLC

Key Points

• Ithaka Group LLC reduced its holdings in Intuit Inc. by 4.8% in the first quarter, selling 736 shares and holding 14,670 shares valued at approximately $9 million.
• Insider activity saw significant sales, with EVP Mark P. Notarainni selling 1,147 shares and CFO Sandeep Aujla selling 2,591 shares, representing substantial decreases in their ownership.
• Analysts have a consensus rating of "Moderate Buy" for Intuit shares, with a price target of $806.27 after recent upgrades from major firms like JPMorgan and HSBC.

Ithaka Group LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,670 shares of the software maker's stock after selling 736 shares during the quarter. Intuit accounts for 1.8% of Ithaka Group LLC's portfolio, making the stock its 19th largest position. Ithaka Group LLC's holdings in Intuit were worth $9,007,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its holdings in Intuit by 7.9% during the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after purchasing an additional 252,265 shares in the last quarter. Northern Trust Corp increased its position in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after purchasing an additional 498,030 shares during the period. 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 worth $1,930,765,000 after buying an additional 771,232 shares in the last quarter. GAMMA Investing LLC boosted its stake in Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after buying an additional 2,821,534 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in Intuit by 1.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,804,476 shares of the software maker's stock worth $1,134,114,000 after acquiring an additional 33,265 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the transaction, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 2,591 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the completion of the sale, the chief financial officer directly owned 768 shares of the company's stock, valued at approximately $600,744.96. This represents a 77.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,800 shares of company stock valued at $209,725,054. Insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on INTU shares. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research report on Wednesday, April 23rd. CLSA assumed coverage on shares of Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price on the stock. Barclays reissued an "overweight" rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Susquehanna reiterated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $806.27.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $784.87 on Tuesday. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $813.70. The business has a 50 day moving average price of $768.40 and a 200 day moving average price of $663.67. The company has a market cap of $218.94 billion, a price-to-earnings ratio of 63.71, a PEG ratio of 2.99 and a beta of 1.28. 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 released 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%. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $9.88 EPS. Research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders 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 annualized dividend and a dividend yield of 0.5%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

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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