Lindsell Train Ltd Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Lindsell Train Ltd boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 0.8% in the first quarter, Holdings Channel reports. The institutional investor owned 2,265,806 shares of the software maker’s stock after acquiring an additional 18,800 shares during the quarter. Intuit accounts for approximately 12.2% of Lindsell Train Ltd’s investment portfolio, making the stock its 4th biggest holding. Lindsell Train Ltd’s holdings in Intuit were worth $867,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of INTU. CIBC Private Wealth Group LLC grew its position in shares of Intuit by 6.3% in the first quarter. CIBC Private Wealth Group LLC now owns 112,682 shares of the software maker’s stock valued at $43,165,000 after purchasing an additional 6,645 shares in the last quarter. MV Capital Management Inc. boosted its stake in Intuit by 19.7% in the 1st quarter. MV Capital Management Inc. now owns 3,475 shares of the software maker’s stock worth $1,331,000 after purchasing an additional 571 shares during the period. South State CORP. grew its holdings in Intuit by 2.4% during the 1st quarter. South State CORP. now owns 1,126 shares of the software maker’s stock valued at $431,000 after buying an additional 26 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Intuit by 12.9% during the first quarter. Ritholtz Wealth Management now owns 963 shares of the software maker’s stock valued at $369,000 after buying an additional 110 shares during the period. Finally, Weil Company Inc. increased its position in shares of Intuit by 0.5% during the first quarter. Weil Company Inc. now owns 7,714 shares of the software maker’s stock valued at $2,955,000 after buying an additional 36 shares during the period. 83.82% of the stock is currently owned by institutional investors and hedge funds.

In other Intuit news, Chairman Brad D. Smith sold 163,061 shares of the stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $431.50, for a total value of $70,360,821.50. Following the completion of the sale, the chairman now owns 517,568 shares in the company, valued at approximately $223,330,592. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michelle M. Clatterbuck sold 414 shares of Intuit stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $436.21, for a total value of $180,590.94. Following the completion of the sale, the chief financial officer now owns 546 shares in the company, valued at $238,170.66. The disclosure for this sale can be found here. In the last three months, insiders sold 168,912 shares of company stock worth $72,890,386. Insiders own 3.38% of the company’s stock.

Several equities analysts recently commented on the stock. Mizuho upped their target price on shares of Intuit from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, May 26th. Royal Bank of Canada upped their price target on shares of Intuit from $490.00 to $525.00 and gave the stock an “outperform” rating in a report on Wednesday, May 26th. Citigroup lifted their price objective on Intuit from $383.00 to $411.00 and gave the company a “neutral” rating in a research note on Friday, February 12th. Evercore ISI upgraded Intuit from an “in-line” rating to an “outperform” rating and set a $500.00 target price for the company in a research report on Tuesday, February 23rd. Finally, KeyCorp raised their price target on Intuit from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday, May 26th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $465.71.

INTU stock traded up $0.82 during trading on Friday, hitting $472.15. 8,980 shares of the company traded hands, compared to its average volume of 1,350,777. The stock has a 50-day moving average of $420.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 1.96. Intuit Inc. has a 1 year low of $274.19 and a 1 year high of $473.71. The firm has a market capitalization of $129.02 billion, a price-to-earnings ratio of 60.43, a PEG ratio of 4.25 and a beta of 1.00.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, May 24th. The software maker reported $6.07 earnings per share for the quarter, missing analysts’ consensus estimates of $6.19 by ($0.12). Intuit had a net margin of 23.93% and a return on equity of 28.76%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period last year, the company posted $4.49 EPS. The business’s revenue for the quarter was up 39.0% compared to the same quarter last year. As a group, equities analysts predict that Intuit Inc. will post 7.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 19th. Shareholders of record on Monday, July 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, July 9th. This represents a $2.36 annualized dividend and a yield of 0.50%. Intuit’s payout ratio is currently 35.98%.

About Intuit

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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