BBVA USA Bancshares Inc. Reduces Stake in Intuit Inc. (NASDAQ:INTU)

BBVA USA Bancshares Inc. reduced its position in Intuit Inc. (NASDAQ:INTU) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,613 shares of the software maker’s stock after selling 400 shares during the period. BBVA USA Bancshares Inc.’s holdings in Intuit were worth $3,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Intuit by 4.1% in the 2nd quarter. BlackRock Inc. now owns 23,085,334 shares of the software maker’s stock valued at $6,837,643,000 after purchasing an additional 916,632 shares in the last quarter. Bank of New York Mellon Corp increased its position in Intuit by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 2,974,425 shares of the software maker’s stock worth $880,994,000 after buying an additional 178,720 shares in the last quarter. Bank of America Corp DE increased its position in Intuit by 2.6% during the second quarter. Bank of America Corp DE now owns 2,631,783 shares of the software maker’s stock worth $779,509,000 after buying an additional 66,772 shares in the last quarter. Winslow Capital Management LLC increased its position in Intuit by 1.3% during the second quarter. Winslow Capital Management LLC now owns 1,780,182 shares of the software maker’s stock worth $527,271,000 after buying an additional 22,646 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Intuit by 30.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,752,372 shares of the software maker’s stock worth $518,148,000 after buying an additional 412,257 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on INTU shares. Mizuho raised their price target on Intuit from $330.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. KeyCorp lifted their price objective on Intuit from $315.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Stifel Nicolaus lifted their price objective on Intuit from $300.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Credit Suisse Group lifted their price objective on Intuit from $330.00 to $375.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. Finally, Guggenheim lifted their price objective on Intuit from $320.00 to $395.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $365.33.

Shares of NASDAQ INTU opened at $325.61 on Friday. Intuit Inc. has a 1 year low of $187.68 and a 1 year high of $360.00. The firm has a market cap of $85.25 billion, a price-to-earnings ratio of 47.05, a PEG ratio of 3.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.26 and a current ratio of 2.26. The stock’s 50-day simple moving average is $326.01 and its 200-day simple moving average is $301.93.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, August 25th. The software maker reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.95. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.57 billion. Intuit had a return on equity of 40.79% and a net margin of 23.78%. Intuit’s quarterly revenue was up 81.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share. As a group, research analysts predict that Intuit Inc. will post 7.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 19th. Stockholders of record on Monday, October 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, October 8th. This is an increase from Intuit’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 0.72%. Intuit’s payout ratio is currently 35.98%.

In other Intuit news, CEO Sasan K. Goodarzi sold 161,258 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $345.66, for a total value of $55,740,440.28. Following the completion of the sale, the chief executive officer now directly owns 154,306 shares in the company, valued at $53,337,411.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Brad D. Smith sold 18,773 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $342.01, for a total value of $6,420,553.73. Following the completion of the sale, the chairman now owns 304,706 shares of the company’s stock, valued at $104,212,499.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 244,742 shares of company stock valued at $83,471,109. Insiders own 4.09% of the company’s stock.

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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