Intuit Inc. (NASDAQ:INTU) Position Lessened by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC has reduced its stake in Intuit Inc. by 15.6%, owning 22,413 shares valued at approximately $13.76 million after selling 4,152 shares in the first quarter.
• Intuit's latest quarterly earnings exceeded expectations, reporting an EPS of $11.65 against a consensus estimate of $10.89, and quarterly revenues reaching $7.75 billion, a 15.1% increase year-over-year.
• Intuit recently declared a quarterly dividend of $1.04 per share, with a yield of 0.6% and a payout ratio of 33.77%.

Mizuho Securities USA LLC reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 15.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,413 shares of the software maker's stock after selling 4,152 shares during the period. Mizuho Securities USA LLC's holdings in Intuit were worth $13,761,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock valued at $16,780,536,000 after buying an additional 294,993 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after buying an additional 252,265 shares during the period. Northern Trust Corp boosted its holdings in Intuit by 17.3% in 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 boosted its holdings in 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 valued at $1,930,765,000 after purchasing an additional 771,232 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 2,821,534 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 of the company's stock, valued at $31,017,164.28. This trade represents a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock valued at $209,725,054 over the last ninety days. Insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets increased their target price on shares of Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. UBS Group set a $750.00 price objective on shares of Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Stifel Nicolaus upped their price target on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $806.27.

Intuit Stock Down 5.7%

NASDAQ:INTU traded down $42.91 during midday trading on Monday, reaching $706.09. The company had a trading volume of 3,194,702 shares, compared to its average volume of 1,454,196. The firm has a market capitalization of $196.96 billion, a price-to-earnings ratio of 57.31, a PEG ratio of 2.89 and a beta of 1.28. The stock's fifty day simple moving average is $768.10 and its 200-day simple moving average is $668.87. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the firm posted $9.88 EPS. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were given a $1.04 dividend. 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 (DPR) is 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.