Saturna Capital Corp Has $181.24 Million Position in Intuit Inc. (NASDAQ:INTU)

Saturna Capital Corp reduced its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 295,183 shares of the software maker's stock after selling 890 shares during the period. Intuit comprises 2.7% of Saturna Capital Corp's investment portfolio, making the stock its 10th largest holding. Saturna Capital Corp owned approximately 0.11% of Intuit worth $181,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Intuit by 1.3% in 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 lifted its holdings in Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after buying an additional 132,384 shares during the period. Wellington Management Group LLP lifted its holdings in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares during the period. Norges Bank bought a new stake in Intuit during the fourth quarter valued at $2,290,419,000. Finally, Brown Advisory Inc. grew its holdings in Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after acquiring an additional 252,265 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider owned 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of the business's stock in a transaction on 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 transaction, the executive vice president directly owned 40,767 shares in the company, valued at $31,017,164.28. This trade represents a 45.71% 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 valued at $209,725,054. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

NASDAQ:INTU traded down $2.74 during mid-day trading on Friday, reaching $752.63. The company's stock had a trading volume of 1,504,966 shares, compared to its average volume of 1,624,458. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a market cap of $209.95 billion, a P/E ratio of 61.09, a PEG ratio of 3.35 and a beta of 1.27. The firm's fifty day moving average price is $742.02 and its two-hundred day moving average price is $649.76. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm earned $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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 $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. Intuit's dividend payout ratio (DPR) is 33.77%.

Analyst Upgrades and Downgrades

Several research firms recently commented on INTU. CLSA began coverage on Intuit in a research note on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price for the company. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the company an "overweight" rating in a research report on Friday, June 13th. Evercore ISI upped their price objective on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Royal Bank Of Canada reissued 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. Finally, Citigroup reaffirmed a "buy" rating and issued a $789.00 target price (up from $726.00) on shares of Intuit 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 given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus target price of $800.55.

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.