Intuit Inc. (NASDAQ:INTU) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 26.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 21,963 shares of the software maker’s stock after selling 7,973 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Intuit were worth $13,639,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of INTU. Intech Investment Management LLC grew its position in shares of Intuit by 134.7% during the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after buying an additional 2,641 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after purchasing an additional 968 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after purchasing an additional 2,655 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Intuit by 13.4% during the 2nd quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after purchasing an additional 1,328 shares during the last quarter. Finally, M&G Plc purchased a new position in Intuit in the first quarter valued at $22,819,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $619.01 on Tuesday. The stock has a fifty day moving average price of $622.95 and a 200 day moving average price of $626.71. Intuit Inc. has a 1-year low of $494.35 and a 1-year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $173.50 billion, a PE ratio of 59.24, a P/E/G ratio of 3.04 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Sell-side analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is currently 39.81%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INTU. BMO Capital Markets lifted their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Jefferies Financial Group upped their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $735.71.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

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.