Livforsakringsbolaget Skandia Omsesidigt Has $7.02 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 19.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,435 shares of the software maker's stock after buying an additional 1,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Intuit were worth $7,019,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 valued at $107,854,000 after purchasing an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC acquired a new position in shares of Intuit during the fourth quarter worth $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Intuit in the fourth quarter valued at $237,244,000. V Square Quantitative Management LLC raised its stake in Intuit by 7.0% in the fourth quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker's stock valued at $4,821,000 after buying an additional 501 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in Intuit during the 4th quarter worth about $10,757,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INTU. The Goldman Sachs Group upped their price objective on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Evercore ISI upped their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Finally, Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus target price of $785.33.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $2.28 during trading hours on Tuesday, reaching $762.10. The stock had a trading volume of 1,422,369 shares, compared to its average volume of 1,619,743. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business's fifty day moving average is $649.11 and its two-hundred day moving average is $626.71. The company has a market cap of $212.59 billion, a price-to-earnings ratio of 73.99, a PEG ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business's revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $9.88 earnings per share. As a group, research analysts expect that Intuit Inc. will post 14.09 EPS for the current 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 dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. Intuit's payout ratio is 33.77%.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53% 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 7,385 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now directly owns 40,190 shares of the company's stock, valued at approximately $24,119,224.70. The trade was a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,592 shares of company stock worth $165,325,437. Company insiders own 2.68% of the company's stock.

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.