KG&L Capital Management LLC Decreases Stock Position in Intuit Inc. (NASDAQ:INTU)

KG&L Capital Management LLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 38.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 678 shares of the software maker’s stock after selling 417 shares during the quarter. KG&L Capital Management LLC’s holdings in Intuit were worth $416,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after buying an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC bought a new position in shares of Intuit during the fourth quarter valued at about $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Intuit during the fourth quarter worth about $237,244,000. Aigen Investment Management LP bought a new stake in shares of Intuit in the fourth quarter worth about $2,958,000. Finally, Baer Investment Advisory LLC purchased a new position in Intuit during the 4th quarter valued at about $3,261,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the sale, the chief financial officer now owns 197 shares in the company, valued at $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 469 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at $13,775. This trade represents a 96.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 271,158 shares of company stock worth $202,989,194 in the last quarter. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $850.00 target price (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. UBS Group set a $750.00 price target on shares of Intuit and gave the company a “neutral” rating in a report on Friday, May 23rd. Evercore ISI upped their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Finally, Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $787.95.

Intuit Trading Down 0.2%

NASDAQ:INTU opened at $757.86 on Thursday. The company has a market cap of $211.40 billion, a PE ratio of 61.51, a price-to-earnings-growth ratio of 3.38 and a beta of 1.28. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a 50 day simple moving average of $692.96 and a two-hundred day simple moving average of $636.84. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the company posted $9.88 earnings per share. Intuit’s revenue was up 15.1% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

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.