LGT Capital Partners LTD. Purchases 1,687 Shares of Intuit Inc. (NASDAQ:INTU)

LGT Capital Partners LTD. boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 323,968 shares of the software maker’s stock after buying an additional 1,687 shares during the quarter. Intuit makes up about 6.0% of LGT Capital Partners LTD.’s holdings, making the stock its 3rd largest position. LGT Capital Partners LTD.’s holdings in Intuit were worth $202,490,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Intuit in the 4th quarter valued at about $1,173,468,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of Intuit by 118,345.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after acquiring an additional 2,086,431 shares during the period. Morgan Stanley grew its position in shares of Intuit by 42.5% during the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after acquiring an additional 1,027,752 shares during the last quarter. Parnassus Investments LLC grew its position in shares of Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after acquiring an additional 609,512 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Intuit by 61.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after purchasing an additional 514,259 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Up 0.2 %

Shares of INTU opened at $650.00 on Friday. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The stock has a 50-day moving average price of $646.73 and a 200 day moving average price of $587.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $182 billion, a P/E ratio of 66.33, a P/E/G ratio of 3.95 and a beta of 1.22.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is 36.73%.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold a total of 34,260 shares of company stock worth $20,667,475 in the last ninety days. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Mizuho upped their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 target price on shares of Intuit in a report on Tuesday. JPMorgan Chase & Co. raised their price target on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Finally, Evercore ISI upped their price target on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $645.00.

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.