LGT Fund Management Co Ltd. Grows Stock Position in Intuit Inc. (NASDAQ:INTU)

LGT Fund Management Co Ltd. boosted its position in Intuit Inc. (NASDAQ:INTU) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,499 shares of the software maker’s stock after buying an additional 162 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Intuit were worth $3,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Copia Wealth Management bought a new stake in Intuit during the fourth quarter valued at $25,000. Heck Capital Advisors LLC bought a new stake in Intuit during the fourth quarter valued at $28,000. Olde Wealth Management LLC bought a new stake in Intuit during the first quarter valued at $37,000. Atlantic Edge Private Wealth Management LLC boosted its stake in Intuit by 523.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker’s stock valued at $50,000 after buying an additional 68 shares during the period. Finally, Hughes Financial Services LLC bought a new stake in Intuit during the first quarter valued at $50,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target for the company in a research note on Wednesday, April 23rd. BMO Capital Markets lifted their price target on Intuit from $820.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. Evercore ISI lifted 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. Bank of America lifted their price target on Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Finally, Citigroup reaffirmed a “buy” rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $806.27.

Intuit Stock Performance

INTU stock opened at $706.09 on Tuesday. The stock has a market capitalization of $196.96 billion, a PE ratio of 57.31, a price-to-earnings-growth ratio of 2.89 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $768.10 and its 200 day simple moving average is $668.87.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $9.88 EPS. As a group, research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio is 33.77%.

Insider Transactions at Intuit

In other Intuit news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director owned 15,474 shares in the company, valued at approximately $11,890,685.82. This represents a 2.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 882 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock worth $209,725,054 over the last three months. 2.68% of the stock is currently owned by insiders.

Intuit 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.