LPL Financial LLC Acquires 8,591 Shares of Intuit Inc. (NASDAQ:INTU)

LPL Financial LLC raised its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,766 shares of the software maker's stock after purchasing an additional 8,591 shares during the period. LPL Financial LLC owned 0.07% of Intuit worth $127,887,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Eagle Asset Management Inc. boosted its holdings in shares of Intuit by 20.8% in the third quarter. Eagle Asset Management Inc. now owns 4,649 shares of the software maker's stock worth $3,181,000 after acquiring an additional 799 shares during the period. Kingsview Wealth Management LLC raised its position in Intuit by 28.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,576 shares of the software maker's stock worth $978,000 after purchasing an additional 353 shares during the period. Penserra Capital Management LLC boosted its position in Intuit by 1.2% during the third quarter. Penserra Capital Management LLC now owns 2,890 shares of the software maker's stock valued at $1,793,000 after buying an additional 34 shares during the period. Swedbank AB grew its stake in shares of Intuit by 3.5% during the third quarter. Swedbank AB now owns 118,266 shares of the software maker's stock valued at $73,443,000 after buying an additional 4,035 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Intuit by 38.2% in the 3rd quarter. Larson Financial Group LLC now owns 300 shares of the software maker's stock valued at $186,000 after acquiring an additional 83 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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Intuit Price Performance

Shares of NASDAQ INTU traded up $4.61 during mid-day trading on Thursday, hitting $619.47. 425,951 shares of the company's stock traded hands, compared to its average volume of 1,836,851. The company has a market capitalization of $173.18 billion, a P/E ratio of 60.14, a PEG ratio of 2.85 and a beta of 1.27. 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 company's 50-day moving average is $595.84 and its two-hundred day moving average is $622.71. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company's stock, valued at $13,401,849.72. This represents a 27.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Marianna Tessel sold 7,385 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the sale, the executive vice president now directly owns 40,190 shares of the company's stock, valued at $24,119,224.70. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,896 shares of company stock valued at $82,946,716. Company insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price on the stock in a report on Wednesday, February 26th. BMO Capital Markets lowered their price objective on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Scotiabank lowered their price target on Intuit from $700.00 to $600.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $721.61.

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.