Motco Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• Motco increased its holdings in Intuit Inc. by 3.3%, acquiring an additional 522 shares in the first quarter, bringing its total ownership to 16,295 shares valued at $10.01 million.
• Several institutional investors boosted their stakes in Intuit, with UBS AM leading with a 33.5% increase, resulting in a total of over 3 million shares owned, worth approximately $1.93 billion.
• Intuit reported better-than-expected earnings in its latest quarter, with a net margin of 19.07% and an EPS of $11.65, surpassing the analysts' consensus estimate of $10.89.

Motco lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,295 shares of the software maker's stock after buying an additional 522 shares during the period. Motco's holdings in Intuit were worth $10,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of INTU. Copia Wealth Management acquired a new stake in shares of Intuit in the fourth quarter worth about $25,000. Summit Securities Group LLC bought a new stake in Intuit during the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter valued at $28,000. Olde Wealth Management LLC bought a new position in shares of Intuit in the 1st quarter worth $37,000. Finally, Atlantic Edge Private Wealth Management LLC raised its stake in Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Evercore ISI lifted their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Oppenheimer boosted their price objective on Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a report on Monday. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the company a "buy" rating in a research report on Friday, May 23rd. CLSA started coverage on shares of Intuit in a report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. One equities 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $806.27.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $784.09, for a total value of $1,362,748.42. Following the sale, the chief accounting officer directly owned 455 shares in the company, valued at $356,760.95. The trade was a 79.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the transaction, the executive vice president owned 19 shares in the company, valued at $14,704.10. The trade was a 98.37% 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 worth $209,725,054 in the last 90 days. 2.68% of the stock is owned by company insiders.

Intuit Stock Up 0.8%

Shares of INTU traded up $6.24 on Wednesday, hitting $812.58. 710,200 shares of the stock traded hands, compared to its average volume of 1,770,085. The company has a market capitalization of $226.67 billion, a PE ratio of 66.00, a P/E/G ratio of 3.54 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The business has a 50 day simple moving average of $760.66 and a 200 day simple moving average of $658.48. Intuit Inc. has a one year low of $532.65 and a one year high of $812.18.

Intuit (NASDAQ:INTU - Get Free Report) last issued its 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 company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the company posted $9.88 earnings per share. The firm's quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is 33.77%.

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.