Swiss National Bank Sells 2,400 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Swiss National Bank reduced its position in Intuit Inc. by 0.3%, now holding 789,400 shares worth approximately $484.68 million.
• Analysts maintain a consensus "Moderate Buy" rating on Intuit, with a target price averaging around $806.27, following upgraded ratings from multiple financial institutions.
• Intuit's latest earnings report revealed an earnings per share of $11.65, surpassing estimates and showing a 15.1% year-over-year revenue growth.

Swiss National Bank trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 789,400 shares of the software maker's stock after selling 2,400 shares during the period. Swiss National Bank owned approximately 0.28% of Intuit worth $484,684,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Copia Wealth Management bought a new stake in Intuit during the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new stake in Intuit in the 4th quarter valued at $28,000. Olde Wealth Management LLC bought a new position in Intuit during the 1st quarter valued at $37,000. Atlantic Edge Private Wealth Management LLC lifted its stake in Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock valued at $50,000 after acquiring an additional 68 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in Intuit during the 1st quarter worth $50,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 16,061 shares of the firm's 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 sale, the chief financial officer directly owned 197 shares of the company's stock, valued at $143,047.61. This trade represents a 98.79% 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, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the sale, the insider owned 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock valued at $209,725,054 in the last ninety days. Insiders own 2.68% of the company's stock.

Intuit Price Performance

NASDAQ INTU traded down $12.61 on Friday, hitting $749.00. The stock had a trading volume of 1,670,219 shares, compared to its average volume of 1,423,083. The firm has a 50-day moving average of $769.27 and a 200-day moving average of $667.63. 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 Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The company has a market capitalization of $208.93 billion, a price-to-earnings ratio of 60.80, a price-to-earnings-growth ratio of 2.89 and a beta of 1.28.

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

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were issued 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 presently 33.77%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on INTU shares. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their target price on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Jefferies Financial Group set a $850.00 price target on Intuit and gave the company a "buy" rating in a research report on Friday, May 23rd. UBS Group set a $750.00 price objective on Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an "overweight" rating in a research report on Friday, June 13th. One equities research 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 stock. According to data from MarketBeat, Intuit has an average rating of "Moderate Buy" and an average target price of $806.27.

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.