Whittier Trust Co. of Nevada Inc. Lowers Position in Intuit Inc. (NASDAQ:INTU)

Whittier Trust Co. of Nevada Inc. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 74.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,036 shares of the software maker's stock after selling 11,503 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Intuit were worth $2,478,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of INTU. Pinnacle Financial Partners Inc grew its position in Intuit by 3.6% in the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock valued at $10,922,000 after acquiring an additional 623 shares during the period. Capitolis Liquid Global Markets LLC acquired a new position in shares of Intuit during the fourth quarter valued at $109,988,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Intuit during the first quarter valued at $2,285,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Intuit during the fourth quarter valued at $237,244,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Intuit by 16.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,905 shares of the software maker's stock valued at $4,240,000 after acquiring an additional 962 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 1,147 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the sale, the executive vice president owned 19 shares in the company, valued at $14,704.10. This represents a 98.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the sale, the director owned 15,474 shares in the company, valued at approximately $11,890,685.82. The trade was a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 over the last quarter. 2.68% of the stock is owned by company insiders.

Intuit Price Performance

Shares of Intuit stock traded down $1.54 during trading on Friday, reaching $753.84. 417,906 shares of the company's stock were exchanged, compared to its average volume of 1,619,254. 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 1-year low of $532.65 and a 1-year high of $790.60. The company has a market cap of $210.28 billion, a P/E ratio of 61.18, a PEG ratio of 3.33 and a beta of 1.27. The firm's 50-day moving average price is $742.02 and its 200 day moving average price is $649.76.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the firm earned $9.88 EPS. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.55%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Wall Street Analyst Weigh In

Several research firms have weighed in on INTU. Oppenheimer reissued an "outperform" rating and issued a $742.00 target price (up previously from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. The Goldman Sachs Group boosted their price target on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $850.00 target price (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and a consensus price target of $800.55.

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.