Toronto Dominion Bank Has $104.78 Million Position in Intuit Inc. (NASDAQ:INTU)

Toronto Dominion Bank grew its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,722 shares of the software maker's stock after purchasing an additional 5,840 shares during the period. Toronto Dominion Bank owned approximately 0.06% of Intuit worth $104,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp raised its stake in Intuit by 1.8% in 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 buying an additional 221,885 shares in the last quarter. Geode Capital Management LLC raised its stake in Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker's stock valued at $3,701,762,000 after buying an additional 80,463 shares in the last quarter. Fisher Asset Management LLC raised its stake in Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker's stock valued at $2,376,984,000 after buying an additional 107,482 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker's stock worth $1,538,236,000 after purchasing an additional 23,995 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intuit by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker's stock worth $1,428,790,000 after purchasing an additional 87,517 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the firm's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 2,461 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $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 sold 119,032 shares of company stock worth $76,314,242. Corporate insiders own 2.68% of the company's stock.

Intuit Trading Up 3.2 %

INTU traded up $20.39 during trading on Wednesday, hitting $667.46. The company's stock had a trading volume of 1,060,041 shares, compared to its average volume of 1,362,131. The firm's 50 day moving average price is $636.41 and its 200-day moving average price is $630.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $186.84 billion, a PE ratio of 64.38, a PEG ratio of 3.19 and a beta of 1.25. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate 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 EPS. On average, analysts expect that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.62%. Intuit's dividend payout ratio is currently 40.39%.

Analysts Set New Price Targets

Several equities analysts have issued reports on INTU shares. Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the stock an "equal weight" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Susquehanna reissued a "positive" rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Finally, Piper Sandler lowered their price target on Intuit from $768.00 to $765.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $737.44.

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.