TD Private Client Wealth LLC Reduces Position in Intuit Inc. (NASDAQ:INTU)

TD Private Client Wealth LLC cut its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 25.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,116 shares of the software maker's stock after selling 2,060 shares during the period. TD Private Client Wealth LLC's holdings in Intuit were worth $3,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Intuit during the fourth quarter worth $2,290,419,000. GAMMA Investing LLC lifted its position in Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after purchasing an additional 2,821,534 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after purchasing an additional 771,232 shares during the last quarter. Wellington Management Group LLP lifted its position in Intuit by 13.3% during 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 purchasing an additional 620,559 shares during the last quarter. Finally, Unisphere Establishment lifted its position in Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after purchasing an additional 500,000 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Down 2.4%

NASDAQ INTU traded down $18.63 during trading on Thursday, reaching $749.93. 1,046,720 shares of the company's stock traded hands, compared to its average volume of 1,620,574. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $209.19 billion, a price-to-earnings ratio of 60.87, a price-to-earnings-growth ratio of 3.48 and a beta of 1.27. The company's 50 day simple moving average is $728.22 and its two-hundred day simple moving average is $645.23. 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 posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $9.88 EPS. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is 33.77%.

Insider Transactions at Intuit

In other news, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the transaction, the executive vice president owned 40,767 shares of the company's stock, valued at $31,017,164.28. The trade was a 45.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the transaction, the executive vice president directly owned 22,796 shares in the company, valued at approximately $17,148,291. The trade was a 52.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,467 shares of company stock worth $209,469,167. 2.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on INTU shares. Stifel Nicolaus increased their price objective on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research report on Wednesday, April 23rd. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the company a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Citigroup restated a "buy" rating and issued a $789.00 target price (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. One research 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average target price of $800.55.

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.