LTS One Management LP Buys 3,000 Shares of Intuit Inc. (NASDAQ:INTU)

LTS One Management LP increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,500 shares of the software maker's stock after acquiring an additional 3,000 shares during the period. Intuit makes up approximately 5.5% of LTS One Management LP's investment portfolio, making the stock its 11th biggest position. LTS One Management LP's holdings in Intuit were worth $19,798,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in INTU. Vanguard Group Inc. grew its position in Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after buying an additional 353,185 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after purchasing an additional 132,384 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after purchasing an additional 620,559 shares during the period. Norges Bank purchased a new position in Intuit in the 4th quarter worth about $2,290,419,000. Finally, Bank of New York Mellon Corp raised its holdings in Intuit by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker's stock worth $1,499,744,000 after buying an additional 88,487 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity

In other news, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares in the company, valued at $24,119,224.70. The trade was a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 in the last 90 days. 2.68% of the stock is owned by company insiders.

Intuit Trading Down 0.5 %

Shares of NASDAQ:INTU traded down $2.70 during trading on Friday, hitting $585.38. 1,639,806 shares of the company's stock were exchanged, compared to its average volume of 1,575,512. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $163.65 billion, a P/E ratio of 56.83, a PEG ratio of 2.85 and a beta of 1.25. The firm has a 50-day moving average price of $592.03 and a two-hundred day moving average price of $616.49. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Thursday, April 10th. Intuit's payout ratio is 38.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and upped their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Mizuho lifted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Piper Sandler reissued an "overweight" rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Citigroup dropped their price target on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group decreased their price objective on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $718.56.

Intuit Company 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.