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

Quintet Private Bank Europe S.A. grew its holdings in Intuit Inc. (NASDAQ:INTU) by 7.3% during the third quarter, HoldingsChannel reports. The firm owned 54,351 shares of the software maker’s stock after acquiring an additional 3,703 shares during the period. Intuit comprises about 1.9% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 17th biggest holding. Quintet Private Bank Europe S.A.’s holdings in Intuit were worth $33,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of the business. LGT Financial Advisors LLC acquired a new stake in Intuit in the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the second quarter worth $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group lifted their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock traded down $2.79 on Monday, reaching $618.95. 171,092 shares of the stock were exchanged, compared to its average volume of 1,311,852. Intuit Inc. has a 1-year low of $494.35 and a 1-year high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average price of $622.92 and a two-hundred day moving average price of $626.64. The firm has a market capitalization of $173.49 billion, a PE ratio of 59.50, a PEG ratio of 2.98 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, research analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 39.81%.

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.