Intuit Inc. (NASDAQ:INTU) Stake Lifted by Strategic Planning Group LLC

Strategic Planning Group LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,485 shares of the software maker’s stock after acquiring an additional 219 shares during the quarter. Strategic Planning Group LLC’s holdings in Intuit were worth $4,076,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of INTU. International Assets Investment Management LLC boosted its position in shares of Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after buying an additional 483,621 shares during the period. Holocene Advisors LP raised its stake in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares in the last quarter. Nordea Investment Management AB boosted its position in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. State Street Corp grew its stake in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Intuit during the fourth quarter valued at $104,278,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Down 1.3 %

Shares of Intuit stock opened at $592.99 on Thursday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a market cap of $165.99 billion, a P/E ratio of 57.57, a P/E/G ratio of 3.01 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $634.37 and a 200 day moving average price of $634.55.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. Intuit’s payout ratio is 40.39%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on INTU shares. JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

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.