Union Bancaire Privee UBP SA Decreases Holdings in Intuit Inc. (NASDAQ:INTU)

Union Bancaire Privee UBP SA decreased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 159,936 shares of the software maker's stock after selling 6,945 shares during the quarter. Intuit accounts for about 2.2% of Union Bancaire Privee UBP SA's portfolio, making the stock its 13th largest position. Union Bancaire Privee UBP SA owned approximately 0.06% of Intuit worth $95,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Copia Wealth Management acquired a new stake in shares of Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Intuit during the fourth quarter worth about $28,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter worth about $28,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Intuit during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of a number of research reports. Bank of America increased their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Royal Bank of Canada reiterated an "outperform" rating and set a $850.00 price objective (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Evercore ISI increased their price objective on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. increased their price objective on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Mizuho increased their price objective on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $787.95.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total transaction of $1,124,597.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,408 shares of company stock worth $213,441,865. Company insiders own 2.68% of the company's stock.

Intuit Trading Down 1.6%

Shares of INTU traded down $12.23 during trading hours on Friday, hitting $753.98. The company had a trading volume of 1,148,047 shares, compared to its average volume of 1,611,840. The firm has a market cap of $210.32 billion, a P/E ratio of 73.20, a P/E/G ratio of 2.85 and a beta of 1.28. The stock's 50 day moving average price is $664.85 and its 200 day moving average price is $630.21. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45.

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

Intuit Dividend Announcement

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

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.