Wellington Management Group LLP Has $3.47 Billion Stock Holdings in Intuit Inc. $INTU

Key Points

• Wellington Management Group LLP increased its holdings in Intuit Inc. by 6.8% during Q1, owning approximately 5.66 million shares worth about $3.47 billion, representing 0.7% of its portfolio.
• Insider activity includes sales of 1,215 shares by executives, with a total value exceeding $945,000, indicating a reduction in their ownership stake.
• Intuit recently reported a strong quarterly earnings with EPS of $11.65, beating estimates, alongside a revenue increase of 15.1% year-over-year.

Wellington Management Group LLP raised its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,655,249 shares of the software maker's stock after purchasing an additional 358,328 shares during the period. Intuit makes up approximately 0.7% of Wellington Management Group LLP's portfolio, making the stock its 28th biggest holding. Wellington Management Group LLP owned about 2.02% of Intuit worth $3,472,266,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Copia Wealth Management acquired a new position in Intuit during the 4th quarter valued at about $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Olde Wealth Management LLC bought a new position in shares of Intuit during the 1st quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after buying an additional 68 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new stake in shares of Intuit in the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total value of $689,397.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the transaction, the director directly owned 15,474 shares in the company, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock valued at $209,725,054 in the last quarter. Company insiders own 2.68% of the company's stock.

Intuit Trading Up 0.9%

Shares of INTU stock opened at $716.74 on Monday. The company has a 50-day moving average of $763.75 and a two-hundred day moving average of $672.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The firm has a market cap of $199.93 billion, a PE ratio of 58.18, a price-to-earnings-growth ratio of 2.76 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the firm posted $9.88 earnings per share. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.6%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BMO Capital Markets boosted their target price on shares of Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Susquehanna reissued a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Bank of America boosted their target price on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Morgan Stanley boosted their target price on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, Stifel Nicolaus boosted their target price on shares of 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 company's stock. According to MarketBeat.com, Intuit has an average rating of "Moderate Buy" and an average price target of $809.86.

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.

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