Union Bancaire Privee UBP SA Sells 6,945 Shares of Intuit Inc. (NASDAQ:INTU)

Union Bancaire Privee UBP SA cut its position in Intuit Inc. (NASDAQ:INTU) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 159,936 shares of the software maker’s stock after selling 6,945 shares during the period. Intuit makes up about 2.2% of Union Bancaire Privee UBP SA’s investment portfolio, making the stock its 13th largest holding. Union Bancaire Privee UBP SA owned about 0.06% of Intuit worth $95,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after purchasing an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC bought a new position in shares of Intuit during the 4th quarter valued at $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Intuit in the 4th quarter worth $237,244,000. V Square Quantitative Management LLC boosted its stake in shares of Intuit by 7.0% in the 4th quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock worth $4,821,000 after buying an additional 501 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new stake in shares of Intuit in the fourth quarter worth $10,757,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. UBS Group set a $750.00 target price on Intuit and gave the company a “neutral” rating in a report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Barclays reaffirmed an “overweight” rating and set a $815.00 price target (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Citigroup reissued a “buy” rating and issued a $789.00 price objective (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. Finally, 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 research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $785.33.

Intuit Stock Up 0.3%

Intuit stock opened at $764.75 on Thursday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The stock has a market capitalization of $213.32 billion, a PE ratio of 74.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50 day simple moving average of $656.45 and a 200-day simple moving average of $628.59.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $9.88 earnings per share. On average, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit’s dividend payout ratio is presently 33.77%.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the transaction, the insider now owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,408 shares of company stock worth $213,441,865. Insiders own 2.68% of the company’s stock.

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.