LMR Partners LLP bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,393 shares of the software maker's stock, valued at approximately $8,317,000.
A number of other large investors have also recently bought and sold shares of the stock. Legal & General Group Plc grew its holdings in Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker's stock valued at $1,538,236,000 after buying an additional 23,995 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker's stock valued at $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Intuit by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker's stock valued at $925,262,000 after buying an additional 56,370 shares during the last quarter. Capital World Investors lifted its stake in shares of Intuit by 1.0% during the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker's stock worth $772,706,000 after purchasing an additional 12,068 shares during the period. Finally, Unisphere Establishment lifted its stake in shares of Intuit by 4.2% during the 2nd quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker's stock worth $657,210,000 after purchasing an additional 40,000 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.
INTU has been the topic of a number of recent analyst reports. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Piper Sandler reissued an "overweight" rating and set a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. StockNews.com raised Intuit from a "hold" rating to a "buy" rating in a research note on Monday, September 30th. Barclays increased their price target on Intuit from $740.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Morgan Stanley lowered Intuit from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and an average price target of $739.24.
View Our Latest Stock Analysis on INTU
In other Intuit news, CFO Sandeep Aujla sold 862 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares of the company's stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the business's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company's stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company's stock.
INTU opened at $687.87 on Monday. The business's 50 day moving average is $633.08 and its 200-day moving average is $630.19. The stock has a market cap of $192.80 billion, a PE ratio of 65.82, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a twelve month low of $552.68 and a twelve month high of $714.78.
Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, analysts predict that Intuit Inc. will post 14.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. This is a positive change from Intuit's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.60%. Intuit's payout ratio is 39.81%.
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.
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