TD Asset Management Inc Has $86.38 Million Position in Intuit Inc. (NASDAQ:INTU)

Key Points

• TD Asset Management Inc reduced its stake in Intuit Inc. by 6.1%, owning approximately 140,688 shares valued at $86.38 million after selling 9,175 shares in the 1st quarter.
• Insiders, including CFO Sandeep Aujla, have significantly decreased their ownership in Intuit, with insiders selling a total of 279,800 shares valued at over $209 million in the last ninety days.
• Intuit recently reported $11.65 EPS for the quarter, exceeding analyst expectations, and declared a quarterly dividend of $1.04 per share with a current yield of 0.53%.

TD Asset Management Inc cut its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,688 shares of the software maker's stock after selling 9,175 shares during the quarter. TD Asset Management Inc owned about 0.05% of Intuit worth $86,381,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Copia Wealth Management bought a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Olde Wealth Management LLC bought a new stake in shares of Intuit during the first quarter valued at approximately $37,000. Finally, Atlantic Edge Private Wealth Management LLC increased its position in shares of Intuit by 523.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock valued at $50,000 after purchasing an additional 68 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 0.5%

Shares of INTU traded up $3.81 during trading hours on Wednesday, hitting $810.15. 518,305 shares of the stock traded hands, compared to its average volume of 1,768,951. 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 Inc. has a 1-year low of $532.65 and a 1-year high of $808.46. The firm has a market capitalization of $225.99 billion, a PE ratio of 65.63, a price-to-earnings-growth ratio of 3.54 and a beta of 1.27. The business has a fifty day moving average of $760.66 and a 200-day moving average of $658.48.

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 business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the firm posted $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business 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. This represents a $4.16 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Insider Activity

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the transaction, the executive vice president owned 40,767 shares in the company, valued at approximately $31,017,164.28. This trade represents a 45.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the transaction, the chief financial officer owned 197 shares in the company, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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

A number of analysts have recently issued reports on the company. Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the company a "buy" rating in a research report on Friday, May 23rd. UBS Group set a $750.00 price objective on Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Evercore ISI upped their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. One equities research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $806.27.

About Intuit

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.