Montag A & Associates Inc. Increases Position in Intuit Inc. (NASDAQ:INTU)

Montag A & Associates Inc. increased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,203 shares of the software maker's stock after buying an additional 768 shares during the quarter. Montag A & Associates Inc.'s holdings in Intuit were worth $8,720,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in INTU. Norges Bank purchased a new position in shares of Intuit in the 4th quarter valued at about $2,290,419,000. GAMMA Investing LLC grew its position in Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after buying an additional 2,821,534 shares during the period. Nicholas Hoffman & Company LLC. acquired a new position in Intuit during the first quarter worth about $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 fourth 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 buying an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Intuit by 13.3% during 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 acquiring an additional 620,559 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Performance

NASDAQ:INTU opened at $752.63 on Friday. The stock's 50-day moving average is $743.99 and its 200-day moving average is $650.77. The stock has a market cap of $209.95 billion, a P/E ratio of 61.09, a price-to-earnings-growth ratio of 3.34 and a beta of 1.27. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS 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 analysts' expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm's revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $9.88 earnings per share. Equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is currently 33.77%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Oppenheimer reissued an "outperform" rating and set a $742.00 price target (up previously from $642.00) on shares of Intuit in a research report on Friday, May 23rd. JPMorgan Chase & Co. increased their price objective on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Stifel Nicolaus boosted their target price on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and an average price target of $800.55.

Insider Buying and Selling

In other news, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president owned 40,767 shares in the company, valued at approximately $31,017,164.28. This represents a 45.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the transaction, the executive vice president owned 22,796 shares of the company's stock, valued at $17,148,291. This trade represents a 52.94% 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 over the last quarter. Corporate insiders own 2.68% of the company's stock.

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.

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