Bank Pictet & Cie Europe AG Has $1.08 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Bank Pictet & Cie Europe AG lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 89.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,744 shares of the software maker's stock after acquiring an additional 823 shares during the period. Bank Pictet & Cie Europe AG's holdings in Intuit were worth $1,083,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. LGT Financial Advisors LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in Intuit during the 2nd quarter worth approximately $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 0.7 %

Intuit stock opened at $609.59 on Wednesday. The company's 50-day moving average price is $629.40 and its two-hundred day moving average price is $627.34. 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 $170.41 billion, a P/E ratio of 56.24, a P/E/G ratio of 3.04 and a beta of 1.24. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a $1.04 dividend. This is a boost from Intuit's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit's payout ratio is 38.38%.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Scott D. Cook sold 2,461 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the firm's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 in the last quarter. Corporate insiders own 2.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on INTU. Barclays lowered their price objective on shares of Intuit from $745.00 to $740.00 and set an "overweight" rating on the stock in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a "neutral" rating in a research report on Friday, August 23rd. Susquehanna restated a "positive" rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Citigroup lifted their target price on Intuit from $727.00 to $750.00 and gave the company a "buy" rating in a research report on Friday, June 28th. Finally, Piper Sandler reissued an "overweight" rating and set a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $735.71.

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.

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