Intuit Inc. (NASDAQ:INTU) Shares Purchased by Trillium Asset Management LLC

Key Points

• Trillium Asset Management LLC increased its stake in Intuit Inc. by 66.9% in Q1, owning approximately 28,674 shares worth $17.6 million by the end of the quarter.
• Several analysts have issued positive ratings for Intuit, with target prices ranging from $789.00 to $868.00, leading to a consensus rating of "Moderate Buy."
• Intuit announced a quarterly dividend of $1.04 per share, with an annualized yield of 0.6% and a payout ratio of 33.77%.

Trillium Asset Management LLC increased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 66.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,674 shares of the software maker's stock after purchasing an additional 11,491 shares during the period. Trillium Asset Management LLC's holdings in Intuit were worth $17,605,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock valued at $16,780,536,000 after purchasing an additional 294,993 shares during the period. Brown Advisory Inc. grew its position in shares of Intuit by 7.9% in the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after purchasing an additional 252,265 shares during the period. Northern Trust Corp grew its position in shares of Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after purchasing an additional 498,030 shares during the period. Invesco Ltd. grew its position in shares of Intuit by 1.2% in the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock valued at $1,890,282,000 after purchasing an additional 36,513 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intuit by 33.5% in 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 period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 40,767 shares in the company, valued at $31,017,164.28. This represents a 45.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 16,700 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total value of $12,176,972.00. Following the sale, the executive vice president owned 23,101 shares in the company, valued at $16,844,325.16. The trade was a 41.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,800 shares of company stock valued at $209,725,054. Insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on INTU shares. 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. Evercore ISI lifted their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. CLSA initiated coverage on Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price on the stock. Oppenheimer lifted their target price on Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, Stifel Nicolaus lifted their target price on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $806.27.

Intuit Stock Down 0.2%

Shares of NASDAQ:INTU traded down $1.77 during trading on Wednesday, hitting $711.71. The company's stock had a trading volume of 1,602,299 shares, compared to its average volume of 1,592,884. 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 fifty-two week low of $532.65 and a fifty-two week high of $813.70. The stock's 50-day moving average price is $765.97 and its two-hundred day moving average price is $669.47. The company has a market capitalization of $198.53 billion, a PE ratio of 57.77, a PEG ratio of 2.75 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 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 business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the firm posted $9.88 earnings per share. The company's revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts expect that Intuit Inc. will post 14.09 EPS 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 paid a $1.04 dividend. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. Intuit's 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.