Intuit Inc. (NASDAQ:INTU) Shares Acquired by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 43.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 20,282 shares of the software maker’s stock after buying an additional 6,100 shares during the period. Melqart Asset Management UK Ltd’s holdings in Intuit were worth $7,758,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Intuit by 6.8% in the 1st quarter. BlackRock Inc. now owns 23,146,353 shares of the software maker’s stock worth $8,866,442,000 after buying an additional 1,464,341 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Intuit by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,586,386 shares of the software maker’s stock worth $8,651,941,000 after buying an additional 1,025,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Intuit by 5.9% in the 1st quarter. Geode Capital Management LLC now owns 4,352,130 shares of the software maker’s stock worth $1,662,539,000 after buying an additional 241,291 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Intuit by 7.9% in the 1st quarter. Ameriprise Financial Inc. now owns 3,223,219 shares of the software maker’s stock worth $1,234,822,000 after buying an additional 235,112 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Intuit by 0.5% in the 1st quarter. Northern Trust Corp now owns 3,181,517 shares of the software maker’s stock worth $1,218,712,000 after buying an additional 16,097 shares in the last quarter. Institutional investors and hedge funds own 83.74% of the company’s stock.

In other Intuit news, Chairman Brad D. Smith sold 163,061 shares of the company’s stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $431.50, for a total value of $70,360,821.50. Following the transaction, the chairman now owns 517,568 shares in the company, valued at approximately $223,330,592. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dennis D. Powell sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $431.67, for a total transaction of $2,158,350.00. Following the completion of the transaction, the director now owns 4,234 shares in the company, valued at approximately $1,827,690.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 170,677 shares of company stock valued at $73,737,829. 3.38% of the stock is owned by insiders.

A number of brokerages have commented on INTU. William Blair reiterated an “outperform” rating on shares of Intuit in a report on Wednesday, May 12th. BNP Paribas upgraded shares of Intuit from an “underperform” rating to a “neutral” rating and set a $470.00 target price on the stock in a research note on Thursday, May 27th. Exane BNP Paribas raised shares of Intuit from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 27th. Morgan Stanley boosted their price objective on shares of Intuit from $470.00 to $511.00 and gave the company an “overweight” rating in a research report on Wednesday, May 26th. Finally, Bank of America reaffirmed a “buy” rating and set a $460.00 price objective on shares of Intuit in a research report on Wednesday, April 14th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $465.71.

Shares of Intuit stock traded up $3.87 on Thursday, hitting $518.32. The company had a trading volume of 13,693 shares, compared to its average volume of 1,027,945. The business has a 50-day simple moving average of $469.90. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.20. The stock has a market cap of $141.64 billion, a P/E ratio of 66.48, a PEG ratio of 4.75 and a beta of 1.01. Intuit Inc. has a 52 week low of $286.35 and a 52 week high of $514.59.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Monday, May 24th. The software maker reported $6.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.19 by ($0.12). Intuit had a net margin of 23.93% and a return on equity of 28.76%. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the business earned $4.49 earnings per share. The company’s revenue was up 39.0% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 7.26 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 19th. Investors of record on Monday, July 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Friday, July 9th. Intuit’s dividend payout ratio is presently 35.98%.

Intuit Profile

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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