Rathbones Group PLC Acquires 24,131 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Rathbones Group PLC increased its stake in Intuit Inc. by 8.7% during the 1st quarter, now holding approximately 301,274 shares valued at $184.98 million, making it the firm's 29th largest position.
• Several institutional investors have recently modified their holdings in Intuit, with hedge funds and other institutions owning 83.66% of the stock.
• Intuit recently reported $11.65 EPS for the quarter, exceeding analysts' expectations, and announced a quarterly dividend of $1.04 per share.

Rathbones Group PLC grew its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 301,274 shares of the software maker's stock after buying an additional 24,131 shares during the quarter. Intuit makes up 0.9% of Rathbones Group PLC's portfolio, making the stock its 29th largest position. Rathbones Group PLC owned 0.11% of Intuit worth $184,979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Intuit by 61.3% in the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after acquiring an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Intuit by 145.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after acquiring an additional 482 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Intuit by 14.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock valued at $1,252,000 after acquiring an additional 248 shares during the last quarter. FIL Ltd boosted its holdings in Intuit by 38.9% in the fourth quarter. FIL Ltd now owns 1,592 shares of the software maker's stock valued at $1,001,000 after acquiring an additional 446 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in Intuit by 14.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 26,040 shares of the software maker's stock valued at $16,370,000 after acquiring an additional 3,377 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 0.2%

Intuit stock traded down $1.77 during midday trading on Wednesday, reaching $711.71. The stock had a trading volume of 1,602,299 shares, compared to its average volume of 1,592,884. The firm's fifty day simple moving average is $765.97 and its 200-day simple moving average is $669.47. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The stock has a market capitalization of $198.53 billion, a P/E ratio of 57.77, a price-to-earnings-growth ratio of 2.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $9.88 EPS. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. Intuit's payout ratio is 33.77%.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the transaction, the chief financial officer owned 197 shares of the company's stock, valued at $143,047.61. The trade was a 98.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider directly owned 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,800 shares of company stock worth $209,725,054. Corporate insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. UBS Group set a $750.00 price target on Intuit and gave the company a "neutral" rating in a report on Friday, May 23rd. Stifel Nicolaus raised their target price on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. raised their target price on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Barclays restated an "overweight" rating and set a $815.00 target price (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $806.27.

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.