Intuit Inc. (NASDAQ:INTU) Shares Bought by Iyo Bank Ltd.

Key Points

• Iyo Bank Ltd. increased its investment in Intuit Inc. by 22.0% in the first quarter, acquiring an additional 2,050 shares, which brings its total to 11,353 shares valued at approximately $6.97 million.
• Intuit reported a strong quarterly earnings result, with $11.65 earnings per share, exceeding expectations, and a revenue increase of 15.1% year-over-year, totaling $7.75 billion.
• The company recently declared a quarterly dividend of $1.04 per share, resulting in an annualized dividend yield of 0.6%, while maintaining a 33.77% dividend payout ratio.

Iyo Bank Ltd. increased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 22.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,353 shares of the software maker's stock after buying an additional 2,050 shares during the period. Intuit accounts for 2.2% of Iyo Bank Ltd.'s holdings, making the stock its 18th biggest position. Iyo Bank Ltd.'s holdings in Intuit were worth $6,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in Intuit by 1.2% during the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock valued at $1,890,282,000 after purchasing an additional 36,513 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Intuit by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker's stock valued at $1,130,718,000 after purchasing an additional 82,419 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in Intuit by 3.6% during the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock valued at $10,922,000 after purchasing an additional 623 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in Intuit during the fourth quarter valued at $109,988,000. Finally, Malaga Cove Capital LLC lifted its stake in shares of Intuit by 110.6% in the first quarter. Malaga Cove Capital LLC now owns 874 shares of the software maker's stock worth $537,000 after buying an additional 459 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Down 0.2%

Shares of INTU stock traded down $1.77 during trading on Wednesday, reaching $711.71. The company's stock had a trading volume of 1,602,299 shares, compared to its average volume of 1,592,884. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $198.53 billion, a price-to-earnings ratio of 57.77, a P/E/G ratio of 2.75 and a beta of 1.28. The stock's 50-day moving average price is $765.97 and its 200 day moving average price is $669.47. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70.

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

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.6%. Intuit's payout ratio is 33.77%.

Insider Transactions at Intuit

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president owned 23,101 shares of the company's stock, valued at $16,844,325.16. This trade represents a 41.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INTU. Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 price target (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. Susquehanna reissued a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley raised their price target on shares of Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Citigroup reissued a "buy" rating and issued a $789.00 price target (up from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $806.27.

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.