Achmea Investment Management B.V. Purchases 9,604 Shares of Intuit Inc. (NASDAQ:INTU)

Achmea Investment Management B.V. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 22.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,143 shares of the software maker’s stock after buying an additional 9,604 shares during the period. Achmea Investment Management B.V.’s holdings in Intuit were worth $32,015,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INTU. Bank of America increased their price objective on Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Oppenheimer restated an “outperform” rating and set a $742.00 target price (up from $642.00) on shares of Intuit in a report on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. JPMorgan Chase & Co. raised their price target on Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Finally, CLSA began coverage on shares of Intuit in a report on Thursday. They set an “outperform” rating and a $900.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $793.05.

Intuit Stock Performance

NASDAQ INTU opened at $772.86 on Friday. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $774.80. The stock has a 50-day moving average of $696.71 and a two-hundred day moving average of $637.71. The company has a market cap of $215.59 billion, a P/E ratio of 62.73, a P/E/G ratio of 3.37 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

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

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s payout ratio is 33.77%.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 16,061 shares of the company’s stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,158 shares of company stock valued at $202,989,194 in the last three months. 2.68% 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.