Lone Pine Capital LLC Buys 235,401 Shares of Intuit Inc. (NASDAQ:INTU)

Lone Pine Capital LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 25.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,156,762 shares of the software maker's stock after buying an additional 235,401 shares during the quarter. Intuit accounts for approximately 5.4% of Lone Pine Capital LLC's holdings, making the stock its 6th biggest position. Lone Pine Capital LLC owned approximately 0.41% of Intuit worth $727,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter valued at $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after buying an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Intuit during the fourth quarter valued at $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter valued at $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Price Performance

Shares of INTU stock opened at $624.12 on Monday. The stock has a 50-day moving average price of $593.48 and a 200 day moving average price of $616.08. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $174.48 billion, a price-to-earnings ratio of 60.59, a PEG ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were paid a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insider Activity

In other news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now directly 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 legal filing with the SEC, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 in the last ninety days. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on INTU. Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Morgan Stanley reduced their price objective on Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Oppenheimer reduced their price objective on Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Piper Sandler reissued an "overweight" rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $717.53.

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.

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