Quintet Private Bank Europe S.A. Sells 15,949 Shares of Intuit Inc. (NASDAQ:INTU)

Quintet Private Bank Europe S.A. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 82.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,303 shares of the software maker's stock after selling 15,949 shares during the quarter. Quintet Private Bank Europe S.A.'s holdings in Intuit were worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of INTU. Copia Wealth Management purchased a new position in shares of Intuit during the 4th quarter worth $25,000. NewSquare Capital LLC boosted its stake in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Intuit during the 4th quarter worth $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the 4th quarter valued at $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Intuit during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Price Performance

INTU stock traded down $12.23 during mid-day trading on Friday, hitting $753.98. The company had a trading volume of 1,148,047 shares, compared to its average volume of 1,609,672. The company has a market capitalization of $210.32 billion, a price-to-earnings ratio of 73.20, a P/E/G ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $660.65 and a 200 day moving average price of $629.50.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping 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 net margin of 17.59% and a return on equity of 18.25%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.88 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 62,816 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $765.99, for a total value of $48,116,427.84. Following the sale, the insider now directly owns 6,000,679 shares in the company, valued at $4,596,460,107.21. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marianna Tessel sold 34,329 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 40,767 shares in the company, valued at approximately $31,017,164.28. This trade represents a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,408 shares of company stock worth $213,441,865 in the last three months. Insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on INTU. Mizuho lifted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Stifel Nicolaus lifted 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 research note on Wednesday, April 23rd. The Goldman Sachs Group lifted their target price on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $787.95.

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.