LGT Capital Partners LTD. Acquires 1,687 Shares of Intuit Inc. (NASDAQ:INTU)

LGT Capital Partners LTD. grew its stake in Intuit Inc. (NASDAQ:INTU) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 323,968 shares of the software maker’s stock after acquiring an additional 1,687 shares during the quarter. Intuit comprises approximately 6.0% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 3rd biggest position. LGT Capital Partners LTD. owned about 0.12% of Intuit worth $202,490,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glenview Trust co raised its holdings in Intuit by 1.9% in the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after buying an additional 19 shares during the period. Verity Asset Management Inc. increased its holdings in Intuit by 2.5% in the third quarter. Verity Asset Management Inc. now owns 769 shares of the software maker’s stock valued at $393,000 after buying an additional 19 shares during the last quarter. Steward Financial Group LLC lifted its position in shares of Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after buying an additional 20 shares during the last quarter. Stratos Wealth Advisors LLC increased its position in shares of Intuit by 0.9% during the third quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the software maker’s stock worth $1,145,000 after purchasing an additional 20 shares in the last quarter. Finally, Hamilton Point Investment Advisors LLC increased its position in Intuit by 2.4% during the third quarter. Hamilton Point Investment Advisors LLC now owns 862 shares of the software maker’s stock worth $440,000 after buying an additional 20 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of NASDAQ INTU opened at $650.00 on Friday. 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 Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The business has a 50 day simple moving average of $646.73 and a 200-day simple moving average of $587.31. The company has a market capitalization of $182 billion, a price-to-earnings ratio of 66.33, a price-to-earnings-growth ratio of 3.95 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the business posted $1.05 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts expect that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Insider Activity

In other Intuit news, EVP Laura A. Fennell sold 14,771 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the transaction, the executive vice president now directly owns 50,030 shares in the company, valued at $29,497,688. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Laura A. Fennell sold 14,772 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $598.52, for a total transaction of $8,841,337.44. Following the completion of the sale, the executive vice president now owns 50,030 shares in the company, valued at approximately $29,943,955.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 14,771 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $589.60, for a total value of $8,708,981.60. Following the sale, the executive vice president now owns 50,030 shares in the company, valued at $29,497,688. The disclosure for this sale can be found here. Insiders sold a total of 34,260 shares of company stock valued at $20,667,475 over the last three months. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of several recent research reports. KeyCorp increased their target price on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Company increased their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Evercore ISI upped their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Barclays raised their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Piper Sandler upped their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit 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.