LGT Capital Partners LTD. Has $106.11 Million Stake in Intuit Inc. (NASDAQ:INTU)

LGT Capital Partners LTD. lessened its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 14.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 170,866 shares of the software maker's stock after selling 29,059 shares during the quarter. Intuit makes up approximately 3.7% of LGT Capital Partners LTD.'s portfolio, making the stock its 8th biggest holding. LGT Capital Partners LTD. owned 0.06% of Intuit worth $106,108,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Harvest Portfolios Group Inc. lifted its holdings in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker's stock worth $22,295,000 after buying an additional 1,853 shares in the last quarter. GAMMA Investing LLC lifted its stake in Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker's stock worth $2,383,000 after purchasing an additional 968 shares in the last quarter. Cetera Advisors LLC boosted its holdings in Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker's stock valued at $6,895,000 after purchasing an additional 2,655 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Intuit by 13.4% in the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker's stock worth $7,398,000 after purchasing an additional 1,328 shares during the period. Finally, BDF Gestion bought a new position in Intuit in the 2nd quarter worth about $7,196,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Down 5.0 %

INTU traded down $34.16 during trading on Tuesday, reaching $644.65. The stock had a trading volume of 1,918,972 shares, compared to its average volume of 1,339,104. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a market capitalization of $180.69 billion, a price-to-earnings ratio of 61.47, a P/E/G 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. The stock's 50 day moving average is $634.11 and its two-hundred day moving average is $630.65.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The firm's quarterly revenue was up 17.4% compared to the same quarter last year. As a group, analysts expect that Intuit Inc. will post 14.05 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on INTU shares. StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Monday, September 30th. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. BMO Capital Markets increased their target price on Intuit from $700.00 to $760.00 and gave the company an "outperform" rating in a research note on Friday, August 23rd. Morgan Stanley lowered Intuit from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. increased their price objective on Intuit from $585.00 to $600.00 and gave the company a "neutral" rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuit has an average rating of "Moderate Buy" and an average target price of $737.06.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company's stock, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

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.