Intuit Inc. (NASDAQ:INTU) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,757 shares of the software maker's stock after selling 2,072 shares during the quarter. QRG Capital Management Inc.'s holdings in Intuit were worth $13,972,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Intuit during the 4th quarter valued at about $2,290,419,000. GAMMA Investing LLC lifted its position in shares of Intuit by 69,701.9% during 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 buying an additional 2,821,534 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after buying an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Intuit by 33.5% during 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 buying an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP lifted 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 worth $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.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company's stock, valued at approximately $4,800. This represents a 99.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the sale, the chief financial officer now owns 197 shares in the company, valued at approximately $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,408 shares of company stock valued at $213,441,865. Company insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $815.00 price target (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. BMO Capital Markets reiterated an "outperform" rating and set a $820.00 price target (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group set a $850.00 price objective on Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Intuit has an average rating of "Moderate Buy" and a consensus target price of $787.95.

Intuit Stock Down 1.3%

Shares of NASDAQ:INTU traded down $10.07 during mid-day trading on Wednesday, reaching $754.83. 2,223,307 shares of the stock were exchanged, compared to its average volume of 1,614,880. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock's 50 day simple moving average is $672.69 and its 200-day simple moving average is $632.02. The company has a market cap of $210.56 billion, a P/E ratio of 61.27, a P/E/G ratio of 3.40 and a beta of 1.28. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45.

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 for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the firm posted $9.88 EPS. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities research analysts predict 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. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is presently 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.