LGT Group Foundation Sells 2,389 Shares of Intuit Inc. (NASDAQ:INTU)

LGT Group Foundation lowered its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,981 shares of the software maker's stock after selling 2,389 shares during the period. LGT Group Foundation's holdings in Intuit were worth $9,408,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. FFT Wealth Management LLC increased its holdings in shares of Intuit by 2.9% in the fourth quarter. FFT Wealth Management LLC now owns 699 shares of the software maker's stock worth $437,000 after purchasing an additional 20 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of Intuit by 16.7% in the 4th quarter. First Trust Direct Indexing L.P. now owns 6,429 shares of the software maker's stock valued at $4,019,000 after acquiring an additional 919 shares in the last quarter. Summit Financial LLC boosted its position in shares of Intuit by 8.2% during the 4th quarter. Summit Financial LLC now owns 1,369 shares of the software maker's stock valued at $856,000 after acquiring an additional 104 shares during the last quarter. New York Life Investment Management LLC grew its holdings in shares of Intuit by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 43,948 shares of the software maker's stock worth $27,469,000 after purchasing an additional 405 shares in the last quarter. Finally, RB Capital Management LLC increased its position in shares of Intuit by 1.1% in the fourth quarter. RB Capital Management LLC now owns 3,214 shares of the software maker's stock worth $2,009,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on INTU. Oppenheimer boosted their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. Mizuho increased their target price on Intuit from $670.00 to $725.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Piper Sandler upped their price objective on Intuit from $642.00 to $750.00 and gave the stock an "overweight" rating in a report on Friday, February 23rd. Finally, Stifel Nicolaus raised their price objective on Intuit from $600.00 to $720.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat, Intuit has a consensus rating of "Moderate Buy" and a consensus price target of $650.23.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of the firm's 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 owns 3,180 shares of the company's stock, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on 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 hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares of the company's stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 over the last ninety days. 2.90% of the stock is owned by corporate insiders.

Intuit Trading Up 2.5 %

Shares of INTU stock traded up $15.23 during trading hours on Friday, reaching $629.27. The company's stock had a trading volume of 1,109,511 shares, compared to its average volume of 1,242,392. The stock has a market capitalization of $176.20 billion, a P/E ratio of 64.21, a P/E/G ratio of 3.75 and a beta of 1.22. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The firm's fifty day simple moving average is $638.17 and its 200 day simple moving average is $605.07. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. Equities research analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit's dividend payout ratio is presently 36.73%.

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.