LGT Capital Partners LTD. Has $35.50 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• LGT Capital Partners LTD. has reduced its holdings in Intuit Inc. by 36.8%, selling 33,605 shares, which now account for 1.6% of its portfolio.
• Intuit recently reported earnings of $11.65 per share, beating expectations, with a quarterly revenue of $7.75 billion, a 15.1% increase from the previous year.
• The company declared a quarterly dividend of $1.04 per share, with a current dividend yield of 0.5% and a payout ratio of 33.77%.

LGT Capital Partners LTD. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 36.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,811 shares of the software maker's stock after selling 33,605 shares during the period. Intuit accounts for 1.6% of LGT Capital Partners LTD.'s holdings, making the stock its 23rd biggest holding. LGT Capital Partners LTD.'s holdings in Intuit were worth $35,495,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc raised its position in shares of Intuit by 3.6% in the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after acquiring an additional 623 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $109,988,000. Financial Gravity Asset Management Inc. acquired a new stake in Intuit in the 1st quarter valued at about $2,285,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $237,244,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Intuit by 16.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,905 shares of the software maker's stock valued at $4,240,000 after purchasing an additional 962 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. lifted their target price on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Evercore ISI boosted their price target on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Morgan Stanley boosted their price objective on Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Wells Fargo & Company set a $880.00 price target on Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average target price of $806.27.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $11.14 on Tuesday, reaching $773.74. 156,611 shares of the company traded hands, compared to its average volume of 1,761,581. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The company's 50 day moving average is $768.40 and its 200-day moving average is $663.67. The stock has a market capitalization of $215.83 billion, a PE ratio of 62.84, a P/E/G ratio of 2.99 and a beta of 1.28. 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 (NASDAQ:INTU - Get Free Report) last announced 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. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $9.88 EPS. As a group, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid 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 0.5%. Intuit's payout ratio is presently 33.77%.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 25,648 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the sale, the executive vice president directly owned 22,796 shares in the company, valued at $17,148,291. This represents a 52.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the sale, the executive vice president directly owned 40,767 shares in the company, valued at $31,017,164.28. This represents a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock valued at $209,725,054 in the last ninety days. Company 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.