19,643 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by Trinity Street Asset Management LLP

Trinity Street Asset Management LLP bought a new position in Intuit Inc. (NASDAQ:INTU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,643 shares of the software maker's stock, valued at approximately $12,061,000. Intuit comprises about 1.2% of Trinity Street Asset Management LLP's investment portfolio, making the stock its 16th biggest holding.

A number of other hedge funds have also made changes to their positions in INTU. Norges Bank acquired a new position in shares of Intuit during the fourth quarter worth approximately $2,290,419,000. GAMMA Investing LLC raised its position in Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after buying an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intuit by 33.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after buying an additional 771,232 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $0.17 on Thursday, hitting $766.64. The company had a trading volume of 1,240,092 shares, compared to its average volume of 1,619,147. The stock has a market cap of $213.85 billion, a price-to-earnings ratio of 74.43, a P/E/G ratio of 2.85 and a beta of 1.24. The stock has a 50 day moving average price of $640.03 and a 200 day moving average price of $624.89. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.47. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.88 EPS. Analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the sale, the insider now owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the transaction, the executive vice president now directly owns 22,796 shares of the company's stock, valued at $17,148,291. This represents a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,804 shares of company stock valued at $138,081,963. 2.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Citigroup reaffirmed a "buy" rating and issued a $789.00 target price (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and set a $850.00 price target (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler restated an "overweight" rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $785.33.

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.