LMR Partners LLP Invests $8.32 Million in Intuit Inc. (NASDAQ:INTU)

LMR Partners LLP acquired a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 13,393 shares of the software maker's stock, valued at approximately $8,317,000.

Other hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit in the 2nd quarter valued at approximately $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the business's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company's stock, valued at approximately $279,010.56. The trade was a 89.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the company's stock in a transaction dated 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 directly owns 6,453,105 shares of the company's stock, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company's stock.

Intuit Trading Down 1.7 %

Shares of INTU stock traded down $11.46 during mid-day trading on Monday, hitting $676.41. 919,096 shares of the company's stock were exchanged, compared to its average volume of 1,333,866. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a 50-day simple moving average of $633.08 and a two-hundred day simple moving average of $630.19. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $189.59 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share 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 firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The firm's revenue for the quarter was up 17.4% compared to the same quarter last year. Equities analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit's previous quarterly dividend of $0.90. Intuit's payout ratio is 39.81%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on Intuit from $690.00 to $795.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the company a "neutral" rating in a research note on Friday, August 23rd. StockNews.com raised Intuit from a "hold" rating to a "buy" rating in a research note on Monday, September 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Finally, Jefferies Financial Group raised their price target on Intuit from $770.00 to $790.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average price target of $739.24.

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.