AMF Tjanstepension AB Sells 40,505 Shares of Intuit Inc. (NASDAQ:INTU)

AMF Tjanstepension AB lowered its stake in Intuit Inc. (NASDAQ:INTU) by 61.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 25,247 shares of the software maker’s stock after selling 40,505 shares during the period. AMF Tjanstepension AB’s holdings in Intuit were worth $16,419,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of INTU. DiNuzzo Private Wealth Inc. acquired a new position in Intuit in the 4th quarter valued at $25,000. MCF Advisors LLC increased its holdings in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $38,000. Sachetta LLC bought a new stake in shares of Intuit in the fourth quarter valued at approximately $39,000. Finally, Webster Bank N. A. acquired a new stake in Intuit during the fourth quarter worth approximately $41,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now owns 869 shares in the company, valued at $525,380.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the sale, the executive vice president now directly owns 869 shares of the company’s stock, valued at $525,380.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 1,415 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the sale, the chief financial officer now owns 2,332 shares in the company, valued at $1,409,880.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,937 shares of company stock worth $113,123,232. 2.90% of the stock is owned by company insiders.

Intuit Price Performance

INTU stock opened at $657.21 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The business has a 50-day simple moving average of $618.61 and a two-hundred day simple moving average of $627.92. The company has a market capitalization of $183.72 billion, a P/E ratio of 60.63, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. Intuit Inc. has a 52-week low of $444.19 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the previous year, the firm earned $7.80 earnings per share. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio is currently 33.21%.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent analyst reports. KeyCorp upped their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Susquehanna decreased their price target on shares of Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research report on Friday, May 24th. Citigroup lifted their price target on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley increased their price objective on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $683.91.

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.