Lazard Asset Management LLC Has $154.01 Million Position in Intuit Inc. (NASDAQ:INTU)

Lazard Asset Management LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 4.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 236,939 shares of the software maker’s stock after selling 11,992 shares during the period. Lazard Asset Management LLC owned approximately 0.08% of Intuit worth $154,008,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. DiNuzzo Private Wealth Inc. acquired a new position in Intuit in the fourth quarter valued at approximately $25,000. West Branch Capital LLC raised its holdings in Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the period. MCF Advisors LLC raised its holdings in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in Intuit in the fourth quarter worth $38,000. Finally, Sachetta LLC acquired a new stake in Intuit in the fourth quarter worth $39,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the sale, the executive vice president now owns 869 shares of the company’s stock, valued at approximately $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the sale, the executive vice president now owns 869 shares in the company, valued at approximately $525,380.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the sale, the chief financial officer now owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,963 shares of company stock valued at $114,442,445. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of INTU traded up $7.04 during midday trading on Friday, reaching $633.36. The stock had a trading volume of 987,151 shares, compared to its average volume of 1,180,190. The firm has a 50 day simple moving average of $623.96 and a 200-day simple moving average of $632.89. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The firm has a market cap of $177.06 billion, a PE ratio of 58.43, a P/E/G ratio of 3.62 and a beta of 1.23. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.80 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on INTU shares. Morgan Stanley increased their target price on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Bank of America cut their target price on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Wells Fargo & Company raised their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Finally, Royal Bank of Canada began coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $694.27.

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.