Keybank National Association OH Sells 5,476 Shares of Intuit Inc. (NASDAQ:INTU)

Keybank National Association OH reduced its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,343 shares of the software maker's stock after selling 5,476 shares during the quarter. Keybank National Association OH's holdings in Intuit were worth $47,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its position in shares of Intuit by 16.7% during the 1st quarter. DAVENPORT & Co LLC now owns 18,421 shares of the software maker's stock valued at $11,310,000 after acquiring an additional 2,641 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Intuit by 3.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,557 shares of the software maker's stock valued at $32,883,000 after acquiring an additional 1,851 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Intuit by 4.7% during the 1st quarter. Clear Creek Financial Management LLC now owns 822 shares of the software maker's stock valued at $505,000 after acquiring an additional 37 shares during the last quarter. Cidel Asset Management Inc. lifted its position in shares of Intuit by 9.2% during the 1st quarter. Cidel Asset Management Inc. now owns 426 shares of the software maker's stock valued at $262,000 after acquiring an additional 36 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Intuit by 4.5% during the 1st quarter. Vontobel Holding Ltd. now owns 578,763 shares of the software maker's stock valued at $355,355,000 after acquiring an additional 24,992 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the transaction, the executive vice president directly owned 22,796 shares in the company, valued at approximately $17,148,291. The trade was a 52.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares in the company, valued at $31,017,164.28. The trade was a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,661 shares of company stock valued at $206,491,776 in the last ninety days. Company insiders own 2.68% of the company's stock.

Intuit Stock Up 1.1%

NASDAQ INTU traded up $8.56 during trading on Thursday, hitting $782.26. 822,973 shares of the company traded hands, compared to its average volume of 1,619,453. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60. The business has a fifty day simple moving average of $715.74 and a 200 day simple moving average of $641.72. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $218.21 billion, a P/E ratio of 63.49, a PEG ratio of 3.44 and a beta of 1.27.

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 business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $9.88 earnings per share. As a group, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. Intuit's payout ratio is presently 33.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup reiterated a "buy" rating and set a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Barclays reiterated an "overweight" rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $820.00 target price (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, The Goldman Sachs Group raised their target price on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One 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 stock. According to MarketBeat, Intuit has an average rating of "Moderate Buy" and an average price target of $793.05.

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.