Quintet Private Bank Europe S.A. Reduces Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Quintet Private Bank Europe S.A. lowered its position in Intuit Inc. (NASDAQ:INTUFree Report) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,051 shares of the software maker’s stock after selling 868 shares during the quarter. Intuit comprises about 2.2% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 14th biggest holding. Quintet Private Bank Europe S.A.’s holdings in Intuit were worth $35,034,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Desjardins Global Asset Management Inc. lifted its position in shares of Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in Intuit by 1.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after acquiring an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after acquiring an additional 16 shares in the last quarter. GAM Holding AG raised its holdings in Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its holdings in Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after acquiring an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.2 %

INTU traded up $1.08 on Friday, reaching $595.70. 1,070,500 shares of the company’s stock were exchanged, compared to its average volume of 1,784,930. The company’s 50 day moving average is $617.54 and its 200-day moving average is $624.57. The company has a market cap of $166.53 billion, a price-to-earnings ratio of 54.95, a PEG ratio of 3.41 and a beta of 1.21. Intuit Inc. has a twelve month low of $441.04 and a twelve month high of $676.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

Intuit (NASDAQ:INTUGet Free Report) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter last year, the company earned $7.80 earnings per share. Intuit’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is currently 33.21%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INTU. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. UBS Group raised their target price on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. KeyCorp raised their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Jefferies Financial Group reissued a “buy” rating and issued a $770.00 target price on shares of Intuit in a report on Thursday. Finally, Stifel Nicolaus reduced their target price on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $679.41.

Read Our Latest Report on Intuit

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now owns 869 shares in the company, valued at $525,380.02. The disclosure for this sale can be found here. In the last three months, insiders sold 194,217 shares of company stock worth $113,301,418. 2.90% of the stock is currently owned by insiders.

Intuit Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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