Skandinaviska Enskilda Banken AB publ Has $177.20 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Intuit by 2.1%, now owning 288,703 shares, which makes Intuit the 21st largest holding in its investment portfolio.
• Intuit reported earnings of $11.65 per share, surpassing analyst estimates of $10.89, and achieved revenue of $7.75 billion for the quarter, reflecting a 15.1% year-over-year increase.
• The company announced a quarterly dividend of $1.04 per share, representing an annualized dividend yield of 0.53% with a payout ratio of 33.77%.

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 288,703 shares of the software maker's stock after purchasing an additional 5,823 shares during the quarter. Intuit makes up approximately 0.9% of Skandinaviska Enskilda Banken AB publ's holdings, making the stock its 21st largest holding. Skandinaviska Enskilda Banken AB publ owned about 0.10% of Intuit worth $177,202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Copia Wealth Management acquired a new position in Intuit during the 4th quarter valued at approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Intuit in the 4th quarter worth $28,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter worth $28,000. Olde Wealth Management LLC bought a new stake in shares of Intuit in the 1st quarter worth $37,000. Finally, Atlantic Edge Private Wealth Management LLC raised its position in shares of Intuit by 523.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after purchasing an additional 68 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on INTU shares. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. Susquehanna reissued a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. UBS Group set a $750.00 target price on Intuit and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. One equities research 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 issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $806.27.

Insider Activity

In related news, CFO Sandeep Aujla sold 2,591 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the completion of the sale, the chief financial officer directly owned 768 shares of the company's stock, valued at $600,744.96. This trade represents a 77.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the sale, the director directly owned 15,474 shares of the company's stock, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

Shares of Intuit stock traded up $4.77 during midday trading on Tuesday, hitting $803.50. 711,406 shares of the company were exchanged, compared to its average volume of 1,770,767. The firm has a 50 day simple moving average of $757.95 and a 200-day simple moving average of $657.44. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $807.93. The firm has a market cap of $224.14 billion, a P/E ratio of 65.17, a PEG ratio of 3.49 and a beta of 1.27.

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, topping analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the company posted $9.88 EPS. Research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.52%. Intuit's dividend payout ratio is 33.77%.

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.