Swiss National Bank Has $515.24 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Swiss National Bank boosted its stake in Intuit Inc. (NASDAQ:INTU) by 0.1% during the third quarter, Holdings Channel reports. The institutional investor owned 829,700 shares of the software maker’s stock after buying an additional 800 shares during the period. Swiss National Bank’s holdings in Intuit were worth $515,244,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC grew its position in shares of Intuit by 134.7% during the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after purchasing an additional 2,641 shares in the last quarter. Harvest Portfolios Group Inc. grew its position in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares in the last quarter. Cetera Advisors LLC grew its position in shares of Intuit by 33.4% during the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after purchasing an additional 2,655 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of Intuit by 13.4% during the 2nd quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after acquiring an additional 1,328 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $687.87 on Friday. The company has a fifty day moving average price of $633.08 and a 200-day moving average price of $630.09. The company has a market capitalization of $192.80 billion, a P/E ratio of 65.82, a PEG ratio of 3.36 and a beta of 1.25. Intuit Inc. has a 52-week low of $552.68 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company posted $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Increases Dividend

The business 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 dividend on an annualized basis and a yield of 0.60%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus upped their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Bank of America upped their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets upped their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Barclays upped their price target on shares of Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $739.24.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by company insiders.

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.