LifeWealth Investments LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 582 shares of the software maker's stock, valued at approximately $357,000.
Several other institutional investors and hedge funds also recently made changes to their positions in INTU. Vanguard Group Inc. boosted its position in Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the period. Geode Capital Management LLC lifted its stake in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after buying an additional 132,384 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after buying an additional 620,559 shares during the period. Norges Bank purchased a new position in Intuit in the 4th quarter valued at approximately $2,290,419,000. Finally, Northern Trust Corp grew its stake in Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares in the last quarter. Institutional investors own 83.66% of the company's stock.
Analyst Upgrades and Downgrades
INTU has been the topic of several recent research reports. Royal Bank Of Canada restated an "outperform" rating and set a $850.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Mizuho lifted their target price on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $787.95.
Check Out Our Latest Research Report on INTU
Intuit Price Performance
Shares of Intuit stock opened at $764.90 on Wednesday. The firm has a market capitalization of $213.37 billion, a PE ratio of 62.09, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The business's 50-day moving average price is $672.69 and its 200-day moving average price is $632.02.
Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping 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 the consensus estimate of $7.56 billion. During the same period last year, the firm posted $9.88 earnings per share. The business's revenue was up 15.1% compared to the same quarter last year. Sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.
Intuit Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors 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 yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is presently 33.77%.
Insider Activity at Intuit
In other Intuit news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company's stock, valued at $4,800. This represents a 99.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was 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 now directly owns 197 shares in the company, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,408 shares of company stock worth $213,441,865 in the last ninety days. 2.68% of the stock is owned by company insiders.
About Intuit
(
Free Report)
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.
See Also
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