Vontobel Holding Ltd. Lowers Position in Intuit Inc. (NASDAQ:INTU)

Vontobel Holding Ltd. decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 6.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 553,771 shares of the software maker’s stock after selling 38,143 shares during the period. Intuit makes up approximately 1.2% of Vontobel Holding Ltd.’s investment portfolio, making the stock its 25th biggest position. Vontobel Holding Ltd.’s holdings in Intuit were worth $348,045,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brown Financial Advisors increased its holdings in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after buying an additional 15 shares during the last quarter. Truvestments Capital LLC increased its stake in Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after acquiring an additional 16 shares during the last quarter. Chris Bulman Inc raised its position in Intuit by 1.1% during the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after purchasing an additional 17 shares in the last quarter. Freedom Day Solutions LLC raised its position in Intuit by 0.4% during the third quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock valued at $2,599,000 after purchasing an additional 17 shares in the last quarter. Finally, Covenant Partners LLC lifted its stake in Intuit by 3.4% during the third quarter. Covenant Partners LLC now owns 521 shares of the software maker’s stock worth $324,000 after purchasing an additional 17 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 over the last three months. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on INTU shares. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. Jefferies Financial Group boosted their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

Shares of INTU stock opened at $583.90 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm has a market cap of $163.45 billion, a P/E ratio of 56.69, a P/E/G ratio of 2.91 and a beta of 1.24. The business’s 50 day moving average price is $622.69 and its 200-day moving average price is $630.67.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is currently 40.39%.

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.