Intuit Inc. (NASDAQ:INTU) Shares Sold by UMB Bank n.a.

UMB Bank n.a. trimmed its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 9.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,557 shares of the software maker's stock after selling 4,120 shares during the quarter. UMB Bank n.a.'s holdings in Intuit were worth $24,288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Intuit during the 4th quarter valued at about $2,290,419,000. GAMMA Investing LLC increased its holdings 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 buying an additional 2,821,534 shares during the period. Proficio Capital Partners LLC increased its holdings in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after buying an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 worth $1,930,765,000 after buying an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings 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 worth $3,329,115,000 after buying an additional 620,559 shares during the period. Institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the firm's 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 transaction, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,592 shares of company stock valued at $165,325,437 over the last ninety days. Insiders own 2.68% of the company's stock.

Intuit Stock Performance

Intuit stock traded down $7.20 during mid-day trading on Monday, hitting $764.38. The company had a trading volume of 1,342,389 shares, compared to its average volume of 1,620,534. The company has a market capitalization of $213.22 billion, a price-to-earnings ratio of 74.21, a P/E/G ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The company's fifty day moving average is $646.24 and its 200-day moving average is $625.84. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $9.88 EPS. Equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given 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 0.54%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on INTU shares. Jefferies Financial Group set a $850.00 price target on Intuit and gave the stock 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 target price for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group raised their price target on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. Wells Fargo & Company reiterated an "overweight" rating and set a $825.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, UBS Group set a $750.00 target price on shares of Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $785.33.

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.