Lbp Am Sa Decreases Holdings in Intuit Inc. (NASDAQ:INTU)

LBP AM SA lowered its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 20.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,061 shares of the software maker's stock after selling 8,534 shares during the period. LBP AM SA's holdings in Intuit were worth $20,299,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in Intuit by 177.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 208 shares of the software maker's stock valued at $124,000 after buying an additional 133 shares during the period. Principal Securities Inc. grew its stake in shares of Intuit by 0.7% in the first quarter. Principal Securities Inc. now owns 7,285 shares of the software maker's stock worth $4,579,000 after acquiring an additional 50 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Intuit by 3.7% in the first quarter. Linden Thomas Advisory Services LLC now owns 7,636 shares of the software maker's stock valued at $4,688,000 after acquiring an additional 274 shares in the last quarter. Trek Financial LLC grew its stake in Intuit by 33.4% during the 1st quarter. Trek Financial LLC now owns 1,790 shares of the software maker's stock worth $1,099,000 after purchasing an additional 448 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its holdings in Intuit by 5.8% during the 1st quarter. Personal CFO Solutions LLC now owns 3,118 shares of the software maker's stock worth $1,915,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on INTU shares. JPMorgan Chase & Co. upped their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and issued a $789.00 target price (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price target on Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Stifel Nicolaus lifted their target price on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, UBS Group set a $750.00 price objective on Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $800.55.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider owned 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 16,700 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the sale, the executive vice president owned 23,101 shares of the company's stock, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,800 shares of company stock worth $209,725,054. Corporate insiders own 2.68% of the company's stock.

Intuit Price Performance

NASDAQ INTU remained flat at $747.90 during mid-day trading on Friday. The company had a trading volume of 1,047,778 shares, compared to its average volume of 1,619,728. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a market cap of $208.62 billion, a P/E ratio of 60.71, a price-to-earnings-growth ratio of 3.42 and a beta of 1.27. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60. The stock has a 50-day moving average price of $730.71 and a 200 day moving average price of $645.99.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm 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 company earned $9.88 EPS. Intuit's revenue was up 15.1% on a year-over-year basis. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.56%. Intuit's payout ratio is currently 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.