Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 49.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,633 shares of the software maker’s stock after buying an additional 2,180 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Intuit were worth $3,038,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in INTU. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter worth approximately $1,173,468,000. Moneta Group Investment Advisors LLC boosted its position in Intuit by 118,345.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after purchasing an additional 2,086,431 shares during the last quarter. Morgan Stanley grew its stake in shares of Intuit by 42.5% in the 4th quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock valued at $1,340,830,000 after buying an additional 1,027,752 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Intuit by 220.5% during the first quarter. Artisan Partners Limited Partnership now owns 992,218 shares of the software maker’s stock valued at $442,361,000 after acquiring an additional 682,644 shares in the last quarter. Finally, Capital World Investors grew its position in Intuit by 140.3% in the first quarter. Capital World Investors now owns 859,308 shares of the software maker’s stock worth $413,190,000 after acquiring an additional 501,656 shares in the last quarter. 82.63% of the stock is currently owned by institutional investors.
Intuit Stock Performance
Shares of NASDAQ INTU traded up $2.84 during mid-day trading on Thursday, reaching $544.79. 307,841 shares of the company were exchanged, compared to its average volume of 1,609,275. Intuit Inc. has a twelve month low of $352.63 and a twelve month high of $558.64. The stock has a market capitalization of $152.70 billion, a P/E ratio of 64.21, a P/E/G ratio of 3.36 and a beta of 1.19. The company’s 50-day simple moving average is $504.14 and its 200-day simple moving average is $457.47. The company has a quick ratio of 1.51, a current ratio of 1.47 and a debt-to-equity ratio of 0.35.
Intuit Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Monday, October 9th will be paid a dividend of $0.90 per share. The ex-dividend date is Thursday, October 5th. This is a boost from Intuit’s previous quarterly dividend of $0.78. This represents a $3.60 annualized dividend and a yield of 0.66%. Intuit’s dividend payout ratio is presently 42.65%.
Insider Buying and Selling at Intuit
In other news, EVP Laura A. Fennell sold 53,741 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $450.96, for a total transaction of $24,235,041.36. Following the completion of the transaction, the executive vice president now owns 39,896 shares of the company’s stock, valued at approximately $17,991,500.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Sandeep Aujla sold 10,732 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $531.01, for a total transaction of $5,698,799.32. Following the transaction, the chief financial officer now owns 235 shares in the company, valued at approximately $124,787.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 53,741 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $450.96, for a total transaction of $24,235,041.36. Following the completion of the sale, the executive vice president now owns 39,896 shares of the company’s stock, valued at $17,991,500.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,927 shares of company stock valued at $44,218,147. 3.18% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Citigroup lifted their price objective on shares of Intuit from $495.00 to $565.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Morgan Stanley upped their price target on shares of Intuit from $520.00 to $525.00 in a report on Wednesday, May 24th. KeyCorp lifted their price objective on Intuit from $535.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, September 7th. Oppenheimer boosted their price target on shares of Intuit from $476.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, August 25th. Finally, Stifel Nicolaus raised their price objective on shares of Intuit from $475.00 to $550.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $551.73.
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 ProConnect.
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