Fayez Sarofim & Co Has $563.22 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• Fayez Sarofim & Co increased its stake in Intuit Inc. by 1.9% in Q1, now holding approximately 909,867 shares valued at $563.2 million, making it the firm's 25th largest position.
• Intuit reported Q1 earnings of $11.65 per share, exceeding analyst estimates, with revenue of $7.75 billion, marking a 15.1% year-over-year increase.
• After declaring a quarterly dividend of $1.04 paid on July 18th, Intuit has an annualized dividend yield of 0.5% and a payout ratio of 33.77%.

Fayez Sarofim & Co raised its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 909,867 shares of the software maker's stock after buying an additional 16,850 shares during the period. Intuit comprises about 1.4% of Fayez Sarofim & Co's investment portfolio, making the stock its 25th biggest holding. Fayez Sarofim & Co owned 0.33% of Intuit worth $563,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised 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 valued at $17,348,790,000 after purchasing an additional 2,821,534 shares in the last quarter. Nicholas Hoffman & Company LLC. bought a new position in shares of Intuit during the 1st quarter valued at $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intuit by 33.5% during 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 in the last quarter. Unisphere Establishment raised its holdings in shares of Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Northern Trust Corp raised its holdings 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 in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. KeyCorp restated an "overweight" rating and set a $850.00 price target (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. Oppenheimer raised their price target on shares of Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a report on Monday, July 28th. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a report on Wednesday, April 23rd. UBS Group set a $750.00 target price on shares of Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Piper Sandler restated an "overweight" rating and set a $825.00 price target (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus price target of $806.27.

Insiders Place Their Bets

In related news, CAO Lauren D. Hotz sold 1,738 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $784.09, for a total value of $1,362,748.42. Following the sale, the chief accounting officer owned 455 shares of the company's stock, valued at $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 1,147 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the sale, the executive vice president directly owned 19 shares in the company, valued at approximately $14,704.10. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock valued at $209,725,054 over the last 90 days. Company insiders own 2.68% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $12.61 on Friday, hitting $749.00. 1,670,219 shares of the company were exchanged, compared to its average volume of 1,423,083. The company's 50 day moving average price is $769.27 and its two-hundred day moving average price is $667.24. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $208.93 billion, a price-to-earnings ratio of 60.80, a PEG ratio of 2.93 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data 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. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm posted $9.88 EPS. The business's revenue was up 15.1% compared to the same quarter last year. Research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were paid a $1.04 dividend. 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 0.6%. Intuit's payout ratio is presently 33.77%.

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.