Los Angeles Capital Management LLC Reduces Position in Intuit Inc. (NASDAQ:INTU)

Los Angeles Capital Management LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 34.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,231 shares of the software maker's stock after selling 4,802 shares during the period. Los Angeles Capital Management LLC's holdings in Intuit were worth $5,668,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in INTU. Norges Bank acquired a new stake in Intuit in the 4th quarter valued at $2,290,419,000. GAMMA Investing LLC increased its holdings in Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after purchasing an additional 2,821,534 shares in the last quarter. Nicholas Hoffman & Company LLC. acquired a new stake in Intuit in the 1st quarter valued at $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intuit by 33.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after purchasing an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of INTU traded up $3.79 during mid-day trading on Thursday, reaching $779.79. The company had a trading volume of 869,374 shares, compared to its average volume of 1,776,017. The company's 50 day simple moving average is $750.68 and its 200 day simple moving average is $653.55. 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 1-year low of $532.65 and a 1-year high of $790.60. The company has a market capitalization of $217.52 billion, a price-to-earnings ratio of 63.29, a P/E/G ratio of 3.40 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results 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. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the business earned $9.88 EPS. The company's revenue was up 15.1% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business 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 of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. Intuit's dividend payout ratio is currently 33.77%.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent research reports. CLSA initiated coverage on Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target for the company. UBS Group set a $750.00 price objective on shares of Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Barclays reissued an "overweight" rating and issued a $815.00 price objective (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Stifel Nicolaus upped their price objective on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $800.55.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 2,591 shares of Intuit stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the completion of the sale, the chief financial officer owned 768 shares in the company, valued at $600,744.96. The trade was a 77.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 over the last ninety days. 2.68% of the stock is owned by company insiders.

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.