Bank Pictet & Cie Europe AG Grows Position in Intuit Inc. (NASDAQ:INTU)

Bank Pictet & Cie Europe AG increased its stake in Intuit Inc. (NASDAQ:INTU) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,992 shares of the software maker’s stock after purchasing an additional 248 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Intuit were worth $1,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of INTU. Creative Planning lifted its holdings in shares of Intuit by 5.6% during the 3rd quarter. Creative Planning now owns 53,552 shares of the software maker’s stock worth $33,256,000 after acquiring an additional 2,836 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in Intuit by 4.4% during the third quarter. SeaCrest Wealth Management LLC now owns 687 shares of the software maker’s stock valued at $427,000 after purchasing an additional 29 shares in the last quarter. Good Life Advisors LLC bought a new stake in Intuit during the third quarter worth about $367,000. Global Retirement Partners LLC boosted its holdings in shares of Intuit by 3.3% in the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the software maker’s stock worth $1,118,000 after purchasing an additional 57 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its position in shares of Intuit by 3.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,713 shares of the software maker’s stock valued at $2,927,000 after purchasing an additional 156 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Up 0.6 %

Shares of Intuit stock opened at $587.38 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a market cap of $164.42 billion, a P/E ratio of 57.03, a PEG ratio of 2.91 and a beta of 1.24. The company’s fifty day simple moving average is $621.39 and its two-hundred day simple moving average is $630.35.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) 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 company 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 company earned $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 over the last ninety days. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of recent research reports. Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley increased their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Stifel Nicolaus lowered their price target 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, Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average target price of $726.53.

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.