Toronto Dominion Bank Has $44.29 Million Stake in Intuit Inc. (INTU)

Toronto Dominion Bank lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,463 shares of the software maker’s stock after purchasing an additional 20,697 shares during the quarter. Toronto Dominion Bank’s holdings in Intuit were worth $44,288,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in INTU. Mn Services Vermogensbeheer B.V. raised its position in Intuit by 1.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 135,007 shares of the software maker’s stock worth $35,292,000 after acquiring an additional 1,800 shares in the last quarter. State Treasurer State of Michigan raised its position in Intuit by 0.5% in the first quarter. State Treasurer State of Michigan now owns 74,684 shares of the software maker’s stock worth $19,523,000 after acquiring an additional 400 shares in the last quarter. First Mercantile Trust Co. raised its position in Intuit by 7.3% in the first quarter. First Mercantile Trust Co. now owns 779 shares of the software maker’s stock worth $204,000 after acquiring an additional 53 shares in the last quarter. Lyell Wealth Management LP raised its position in Intuit by 2.6% in the first quarter. Lyell Wealth Management LP now owns 23,215 shares of the software maker’s stock worth $6,069,000 after acquiring an additional 587 shares in the last quarter. Finally, First Allied Advisory Services Inc. purchased a new position in Intuit in the first quarter worth $218,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Intuit stock traded up $5.59 during trading hours on Tuesday, hitting $242.52. The stock had a trading volume of 529,234 shares, compared to its average volume of 1,545,925. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $62.51 billion, a price-to-earnings ratio of 53.54, a price-to-earnings-growth ratio of 2.81 and a beta of 1.14. Intuit Inc. has a 1-year low of $182.61 and a 1-year high of $272.14.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 21st. The software maker reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.44. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. Intuit had a return on equity of 53.70% and a net margin of 22.89%. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 5.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is currently 41.50%.

INTU has been the subject of several research analyst reports. Morgan Stanley upgraded Intuit from an “underweight” rating to an “equal weight” rating and set a $225.00 price objective for the company in a research report on Monday, February 4th. BNP Paribas initiated coverage on Intuit in a research report on Friday, March 29th. They issued an “underperform” rating and a $200.00 price objective for the company. Royal Bank of Canada increased their price objective on Intuit from $274.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Oppenheimer increased their price objective on Intuit from $254.00 to $269.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 27th. Finally, KeyCorp lowered their target price on Intuit from $285.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $243.58.

In related news, EVP Laura A. Fennell sold 67,488 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $251.43, for a total transaction of $16,968,507.84. Following the sale, the executive vice president now owns 95,102 shares of the company’s stock, valued at $23,911,495.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Mark J. Flournoy sold 5,939 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $251.18, for a total value of $1,491,758.02. Following the sale, the vice president now directly owns 3,626 shares in the company, valued at approximately $910,778.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,609 shares of company stock worth $22,757,853. Corporate insiders own 4.60% of the company’s stock.

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About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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