Intuit Inc. (NASDAQ:INTU) Stock Position Raised by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its shareholding in Intuit Inc. by 24.6%, acquiring an additional 640 shares to reach a total of 3,238 shares valued at approximately $1,988,000.
• Intuit reported quarterly earnings of $11.65 per share, surpassing analyst expectations and showing a revenue increase of 15.1% year-over-year to $7.75 billion.
• Several analysts have raised their price targets for Intuit, with Oppenheimer increasing it to $868.00 and CLSA setting a target at $900.00, reflecting a bullish outlook on the stock.

J. Safra Sarasin Holding AG increased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 24.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,238 shares of the software maker's stock after purchasing an additional 640 shares during the period. J. Safra Sarasin Holding AG's holdings in Intuit were worth $1,988,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in INTU. Copia Wealth Management bought a new position in Intuit in the fourth quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new position in Intuit in the fourth quarter worth approximately $28,000. Olde Wealth Management LLC bought a new position in Intuit in the first quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in Intuit by 523.1% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after acquiring an additional 68 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new position in Intuit in the first quarter worth approximately $50,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INTU. Bank of America increased their price target on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $850.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. BMO Capital Markets raised their target price on Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Susquehanna restated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and an average target price of $806.27.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,738 shares of Intuit stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the sale, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock worth $209,725,054 in the last three months. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Down 2.0%

Shares of NASDAQ:INTU traded down $15.60 during trading on Tuesday, hitting $769.27. The company's stock had a trading volume of 1,257,607 shares, compared to its average volume of 1,466,042. The business has a 50 day moving average price of $768.40 and a two-hundred day moving average price of $663.67. The company has a market capitalization of $214.59 billion, a PE ratio of 62.44, a P/E/G ratio of 3.02 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The business 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 revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $9.88 earnings per share. As a group, research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is presently 33.77%.

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.