Mar Vista Investment Partners LLC Has $44.70 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Mar Vista Investment Partners LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 7.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,806 shares of the software maker's stock after selling 5,906 shares during the period. Intuit comprises 3.7% of Mar Vista Investment Partners LLC's investment portfolio, making the stock its 8th biggest position. Mar Vista Investment Partners LLC's holdings in Intuit were worth $44,702,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Geode Capital Management LLC raised its position in Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after purchasing an additional 132,384 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Norges Bank bought a new position in Intuit in the fourth quarter worth about $2,290,419,000. Finally, Brown Advisory Inc. boosted its position in shares of Intuit by 7.9% during the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after purchasing an additional 252,265 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. CLSA started coverage on Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price on the stock. Finally, Bank of America boosted their price objective on Intuit from $730.00 to $875.00 and gave the company a "buy" 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 issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $800.55.

Insider Activity at Intuit

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. 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 in the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Intuit stock remained flat at $747.90 during trading on Friday. The company had a trading volume of 1,047,778 shares, compared to its average volume of 1,621,283. The stock has a market capitalization of $208.63 billion, a PE ratio of 60.71, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. The stock has a fifty day moving average price of $730.71 and a two-hundred day moving average price of $645.99. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $790.60. 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 released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company's revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $9.88 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.56%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

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.