Birch Hill Investment Advisors LLC Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

Birch Hill Investment Advisors LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,580 shares of the software maker's stock after selling 400 shares during the quarter. Intuit accounts for approximately 2.5% of Birch Hill Investment Advisors LLC's portfolio, making the stock its 15th largest position. Birch Hill Investment Advisors LLC's holdings in Intuit were worth $52,545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after acquiring an additional 3,648 shares in the last quarter. Capitolis Liquid Global Markets LLC bought a new stake in shares of Intuit in the 4th quarter worth $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Intuit in the 4th quarter worth $237,244,000. Alberta Investment Management Corp bought a new position in Intuit during the fourth quarter valued at about $10,757,000. Finally, Aigen Investment Management LP bought a new position in Intuit during the fourth quarter valued at about $2,958,000. Institutional investors own 83.66% of the company's stock.

Intuit Price Performance

NASDAQ INTU traded down $10.07 on Wednesday, reaching $754.83. 2,223,307 shares of the company's stock traded hands, compared to its average volume of 1,614,880. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The stock has a market cap of $210.56 billion, a PE ratio of 61.27, a P/E/G ratio of 3.40 and a beta of 1.28. The stock has a 50-day simple moving average of $672.69 and a 200 day simple moving average of $632.02.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results 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 firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the business earned $9.88 earnings per share. The business's revenue was up 15.1% on a year-over-year basis. As a group, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is 33.77%.

Analyst Upgrades and Downgrades

INTU has been the subject of several research reports. Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Bank of America upped their price objective on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, UBS Group set a $750.00 price objective on shares of Intuit and gave the company a "neutral" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $787.95.

Insider Transactions at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 288,408 shares of company stock worth $213,441,865. Insiders own 2.68% of the company's stock.

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.