MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 2,465 Shares of Intuit Inc. (NASDAQ:INTU)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its stake in Intuit Inc. (NASDAQ:INTU) by 69.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,064 shares of the software maker’s stock after selling 2,465 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Intuit were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. purchased a new position in shares of Intuit in the fourth quarter worth approximately $25,000. MCF Advisors LLC boosted its holdings in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit in the fourth quarter worth approximately $38,000. Sachetta LLC purchased a new position in shares of Intuit in the fourth quarter worth approximately $39,000. Finally, Webster Bank N. A. purchased a new position in Intuit during the fourth quarter valued at approximately $41,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the transaction, the insider now owns 6,701,721 shares in the company, valued at approximately $3,802,556,495.40. The disclosure for this sale can be found here. Insiders sold a total of 193,937 shares of company stock valued at $113,123,232 over the last three months. 2.90% of the stock is owned by company insiders.

Intuit Stock Up 0.8 %

Shares of INTU opened at $656.22 on Wednesday. The firm has a market capitalization of $183.45 billion, a P/E ratio of 60.54, a P/E/G ratio of 3.76 and a beta of 1.23. Intuit Inc. has a 12-month low of $444.19 and a 12-month high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $619.43 and a 200-day moving average price of $628.63.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same period in the prior year, the firm earned $7.80 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Bank of America lowered their price target on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a report on Friday, May 24th. UBS Group boosted their target price on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. Finally, Stifel Nicolaus reduced their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $683.91.

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.