Intuit Inc. (NASDAQ:INTU) Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,540 shares of the software maker’s stock after purchasing an additional 1,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Intuit were worth $35,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in INTU. Brighton Jones LLC increased its stake in Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after acquiring an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after acquiring an additional 482 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in Intuit by 14.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker’s stock worth $1,252,000 after acquiring an additional 248 shares during the last quarter. SageView Advisory Group LLC increased its stake in Intuit by 23.0% during the fourth quarter. SageView Advisory Group LLC now owns 518 shares of the software maker’s stock worth $326,000 after acquiring an additional 97 shares during the last quarter. Finally, Main Street Financial Solutions LLC acquired a new stake in Intuit during the fourth quarter worth about $255,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on INTU shares. The Goldman Sachs Group upped their price target on Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $850.00 target price (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Morgan Stanley increased their target price on Intuit from $785.00 to $900.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Finally, Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an “overweight” rating in a research note on Friday, June 13th. One investment 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 target price of $806.27.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,738 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the sale, the chief accounting officer directly owned 455 shares in the company, valued at $356,760.95. This trade represents a 79.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the transaction, the director owned 15,474 shares in the company, valued at approximately $11,890,685.82. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock worth $209,725,054 over the last quarter. Insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.2%

Shares of NASDAQ INTU opened at $711.71 on Thursday. The company has a market cap of $198.53 billion, a price-to-earnings ratio of 57.77, a price-to-earnings-growth ratio of 2.75 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $765.97 and its 200 day simple moving average is $669.47.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the business posted $9.88 EPS. The business’s revenue was up 15.1% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is currently 33.77%.

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.