Vanguard Group Inc. Has $16.78 Billion Stock Position in Intuit Inc. (NASDAQ:INTU)

Key Points

• Vanguard Group Inc. increased its holdings in Intuit Inc. by 1.1%, acquiring an additional 294,993 shares during the first quarter, bringing its total ownership to approximately 27.33 million shares valued at $16.78 billion.
• Multiple analysts have raised their price targets for Intuit, with Morgan Stanley increasing theirs from $785 to $900 and Jefferies setting a target at $850, reflecting strong market sentiment.
• Intuit recently declared a quarterly dividend of $1.04 per share, translating to an annualized yield of only 0.5%, indicating a conservative dividend policy amidst significant earnings growth.

Vanguard Group Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 27,330,309 shares of the software maker's stock after acquiring an additional 294,993 shares during the period. Vanguard Group Inc. owned 9.78% of Intuit worth $16,780,536,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Pinnacle Financial Partners Inc boosted its position in shares of Intuit by 3.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock valued at $10,922,000 after purchasing an additional 623 shares in the last quarter. Capitolis Liquid Global Markets LLC bought a new position in shares of Intuit during the 4th quarter valued at about $109,988,000. Malaga Cove Capital LLC boosted its position in shares of Intuit by 110.6% during the 1st quarter. Malaga Cove Capital LLC now owns 874 shares of the software maker's stock valued at $537,000 after purchasing an additional 459 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Intuit during the 1st quarter valued at about $2,285,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Intuit during the 4th quarter valued at about $237,244,000. Institutional investors own 83.66% of the company's stock.

Insider Activity

In related news, EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the transaction, the executive vice president owned 22,796 shares of the company's stock, valued at approximately $17,148,291. This trade represents a 52.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marianna Tessel sold 34,329 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the transaction, the executive vice president directly owned 40,767 shares in the company, valued at approximately $31,017,164.28. The trade was a 45.71% 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. 2.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INTU shares. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Stifel Nicolaus raised their target price on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets raised their target price on shares of Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $806.27.

Intuit Stock Down 1.7%

Shares of NASDAQ INTU traded down $12.61 during mid-day trading on Friday, reaching $749.00. The company had a trading volume of 1,670,219 shares, compared to its average volume of 1,423,083. The stock has a fifty day moving average of $769.27 and a two-hundred 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. The company has a market capitalization of $208.93 billion, a price-to-earnings ratio of 60.80, a PEG ratio of 2.89 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70.

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 for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates 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 earned $9.88 earnings per share. As a group, equities research 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. Investors of record on Thursday, July 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 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.