Intuit Inc. (NASDAQ:INTU) Stake Increased by Sabal Trust CO

Sabal Trust CO raised its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 24.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,132 shares of the software maker's stock after buying an additional 821 shares during the quarter. Sabal Trust CO's holdings in Intuit were worth $2,537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the period. Geode Capital Management LLC raised its position in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after purchasing an additional 132,384 shares during the period. Wellington Management Group LLP raised 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 worth $3,329,115,000 after purchasing an additional 620,559 shares during the period. Norges Bank acquired a new stake in shares of Intuit during the 4th quarter worth approximately $2,290,419,000. Finally, Northern Trust Corp raised its position in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INTU has been the subject of a number of recent analyst reports. Bank of America increased their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. KeyCorp reissued an "overweight" rating and issued a $850.00 price objective (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. Evercore ISI increased their price objective on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, CLSA initiated coverage on Intuit in a report on Thursday. They issued an "outperform" rating and a $900.00 price objective for the company. One 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $793.05.

Insider Transactions at Intuit

In other news, EVP Mark P. Notarainni sold 469 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at $13,775. This represents a 96.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 272,896 shares of company stock valued at $204,351,942 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

NASDAQ INTU traded up $3.71 on Friday, reaching $776.57. 2,051,675 shares of the stock traded hands, compared to its average volume of 1,613,471. The company has a market cap of $216.62 billion, a price-to-earnings ratio of 63.03, a P/E/G ratio of 3.45 and a beta of 1.28. 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 firm's fifty day simple moving average is $700.54 and its 200 day simple moving average is $638.14. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $787.22.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $7.75 billion during 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%. The company's revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company posted $9.88 EPS. As a group, research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is presently 33.77%.

Intuit 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.