Intuit Inc. (NASDAQ:INTU) Shares Bought by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 109.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,666 shares of the software maker's stock after acquiring an additional 12,916 shares during the quarter. Douglas Lane & Associates LLC's holdings in Intuit were worth $15,502,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings 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 valued at $300,768,000 after acquiring an additional 483,621 shares in the last quarter. Holocene Advisors LP increased its holdings in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker's stock valued at $388,487,000 after buying an additional 312,212 shares in the last quarter. Nordea Investment Management AB raised its holdings in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after purchasing an additional 268,060 shares during the period. Ameriprise Financial Inc. lifted its position in shares of 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 in the last quarter. Finally, State Street Corp lifted its holdings in Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock valued at $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Scott D. Cook sold 75,000 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares of the company's stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now owns 19 shares of the company's stock, valued at approximately $12,286.92. This trade represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,636 shares of company stock worth $187,510,258 over the last ninety days. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

INTU traded up $10.62 on Thursday, hitting $626.05. 1,226,016 shares of the company were exchanged, compared to its average volume of 1,138,095. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $175.24 billion, a P/E ratio of 60.78, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The business's fifty day moving average is $649.55 and its 200 day moving average is $638.16.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit'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, sell-side analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, January 10th. Intuit's dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INTU. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Piper Sandler lowered their price target on shares of Intuit from $768.00 to $765.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a report on Friday, November 22nd. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $737.44.

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.