Intuit Inc. (NASDAQ:INTU) Shares Acquired by Lincoln National Corp

Lincoln National Corp boosted its position in Intuit Inc. (NASDAQ:INTUFree Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,541 shares of the software maker’s stock after purchasing an additional 137 shares during the period. Lincoln National Corp’s holdings in Intuit were worth $2,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Intuit in the fourth quarter valued at about $2,101,848,000. Wellington Management Group LLP boosted its stake in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC purchased a new stake in shares of Intuit during the 4th quarter worth approximately $467,852,000. Parnassus Investments LLC grew its holdings in shares of Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after purchasing an additional 472,172 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares in the company, valued at $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,963 shares of company stock worth $114,442,445. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and set a $770.00 target price on shares of Intuit in a research report on Thursday, June 13th. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Citigroup lifted their target price on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Piper Sandler increased their price target on shares of Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Finally, Wells Fargo & Company raised their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $687.22.

Read Our Latest Report on INTU

Intuit Trading Down 1.4 %

INTU stock opened at $659.58 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The company has a market cap of $184.39 billion, a price-to-earnings ratio of 60.85, a PEG ratio of 3.82 and a beta of 1.23. The business has a fifty day simple moving average of $622.17 and a 200-day simple moving average of $630.18. Intuit Inc. has a 52 week low of $447.01 and a 52 week high of $676.62.

Intuit (NASDAQ:INTUGet Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping the consensus estimate of $8.12 by $1.76. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $7.80 earnings per share. On average, equities research analysts expect that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio is presently 33.21%.

Intuit Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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