Sather Financial Group Inc Trims Stake in Intuit Inc. (NASDAQ:INTU)

Key Points

• Sather Financial Group Inc has reduced its holdings in Intuit Inc. by 6.4%, now owning 66,902 shares worth approximately $41 million.
• Intuit's recent quarterly earnings report showed $11.65 EPS, surpassing analysts' expectations and reflecting a 15.1% year-over-year revenue increase.
• The company announced a quarterly dividend of $1.04 per share, with a current yield of 0.53% and a payout ratio of 33.77%.

Sather Financial Group Inc decreased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 6.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,902 shares of the software maker's stock after selling 4,555 shares during the period. Intuit comprises approximately 2.7% of Sather Financial Group Inc's holdings, making the stock its 18th largest holding. Sather Financial Group Inc's holdings in Intuit were worth $41,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Applied Finance Capital Management LLC increased its stake in Intuit by 4.8% in the first quarter. Applied Finance Capital Management LLC now owns 2,915 shares of the software maker's stock worth $1,790,000 after purchasing an additional 133 shares during the period. Angeles Wealth Management LLC increased its stake in Intuit by 36.8% in the first quarter. Angeles Wealth Management LLC now owns 606 shares of the software maker's stock worth $372,000 after purchasing an additional 163 shares during the period. DE Burlo Group Inc. grew its position in shares of Intuit by 1.0% during the 1st quarter. DE Burlo Group Inc. now owns 3,100 shares of the software maker's stock worth $1,903,000 after buying an additional 30 shares in the last quarter. Mediolanum International Funds Ltd grew its position in shares of Intuit by 10.1% during the 1st quarter. Mediolanum International Funds Ltd now owns 119,880 shares of the software maker's stock worth $71,799,000 after buying an additional 11,031 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Intuit by 2.1% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 288,703 shares of the software maker's stock worth $177,202,000 after buying an additional 5,823 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $4.57 during trading on Wednesday, hitting $810.91. The stock had a trading volume of 651,249 shares, compared to its average volume of 1,769,399. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $811.27. The stock has a market capitalization of $226.20 billion, a price-to-earnings ratio of 65.84, a price-to-earnings-growth ratio of 3.54 and a beta of 1.27. 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 has a 50-day simple moving average of $760.66 and a two-hundred day simple moving average of $658.48.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data 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 return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the business posted $9.88 earnings per share. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is 33.77%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on INTU. Citigroup reissued a "buy" rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price target on Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $850.00 price objective (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, UBS Group set a $750.00 price objective on Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $806.27.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction dated 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction that occurred 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 transaction, the chief financial officer owned 197 shares of the company's stock, 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 90 days, insiders sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by company insiders.

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.