Saturna Capital Corp Sells 890 Shares of Intuit Inc. (NASDAQ:INTU)

Saturna Capital Corp lowered its position in Intuit Inc. (NASDAQ:INTU) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 295,183 shares of the software maker’s stock after selling 890 shares during the period. Intuit comprises about 2.7% of Saturna Capital Corp’s portfolio, making the stock its 10th largest position. Saturna Capital Corp owned about 0.11% of Intuit worth $181,239,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Copia Wealth Management purchased a new position in Intuit during the 4th quarter valued at $25,000. Summit Securities Group LLC bought a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new stake in Intuit in the 4th quarter worth approximately $28,000. VSM Wealth Advisory LLC purchased a new stake in Intuit in the 4th quarter worth approximately $35,000. Finally, Olde Wealth Management LLC purchased a new stake in Intuit during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INTU. Wells Fargo & Company set a $880.00 target price on Intuit and gave the stock an “overweight” rating in a research report on Friday, June 13th. Hsbc Global Res upgraded shares of Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Evercore ISI boosted their price target on Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a research note on Friday, May 23rd. BMO Capital Markets set a $870.00 price target on Intuit and gave the stock an “outperform” rating in a research note on Thursday, July 10th. Finally, Barclays reiterated an “overweight” rating and issued a $815.00 target price (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $800.55.

Intuit Trading Up 1.0%

Intuit stock opened at $758.52 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a 50-day moving average of $742.02 and a 200-day moving average of $649.76. The company has a market cap of $211.59 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 3.33 and a beta of 1.27. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. Intuit’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.88 EPS. On average, equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider owned 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 16,061 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the sale, the chief financial officer owned 197 shares in the company, valued at $143,047.61. This represents a 98.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by company insiders.

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.