Lone Pine Capital LLC Buys 235,401 Shares of Intuit Inc. (NASDAQ:INTU)

Lone Pine Capital LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 25.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,156,762 shares of the software maker’s stock after acquiring an additional 235,401 shares during the period. Intuit comprises about 5.4% of Lone Pine Capital LLC’s portfolio, making the stock its 6th largest position. Lone Pine Capital LLC’s holdings in Intuit were worth $727,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after buying an additional 353,185 shares during the last quarter. Geode Capital Management LLC increased its stake in Intuit by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock valued at $3,833,720,000 after buying an additional 132,384 shares during the last quarter. Wellington Management Group LLP increased its stake in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Norges Bank bought a new position in shares of Intuit in the 4th quarter valued at about $2,290,419,000. Finally, Northern Trust Corp grew its position in shares of Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock valued at $2,118,682,000 after acquiring an additional 498,030 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 $624.12 on Monday. The firm has a 50 day moving average of $593.48 and a 200-day moving average of $616.08. The stock has a market capitalization of $174.48 billion, a PE ratio of 60.59, a PEG ratio of 2.85 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. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s payout ratio is presently 38.81%.

Insider Activity

In other news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

INTU has been the subject of a number of analyst reports. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Morgan Stanley decreased their price objective on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Oppenheimer decreased their price objective on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $717.53.

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.