Intuit Inc. (NASDAQ:INTU) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 43.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,591 shares of the software maker's stock after selling 6,560 shares during the quarter. Lmcg Investments LLC's holdings in Intuit were worth $5,335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INTU. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the second quarter worth approximately $26,000. Fairway Wealth LLC purchased a new stake in Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Intuit during the second quarter worth approximately $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Scott D. Cook sold 2,461 shares of the company's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company's stock, valued at $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 is available through this link. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the firm'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 transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 over the last 90 days. Insiders own 2.90% of the company's stock.

Intuit Price Performance

INTU stock traded up $11.44 during trading on Friday, reaching $621.74. 1,436,999 shares of the company were exchanged, compared to its average volume of 1,317,169. Intuit Inc. has a 52-week low of $489.55 and a 52-week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $174.27 billion, a P/E ratio of 59.50, a PEG ratio of 3.04 and a beta of 1.24. The stock's 50 day moving average price is $622.92 and its 200 day moving average price is $626.54.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly 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 business had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company's revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. As a group, analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $1.04 dividend. This is an increase 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 0.67%. Intuit's payout ratio is presently 39.81%.

Analysts Set New Price Targets

Several research firms recently commented on INTU. Piper Sandler reiterated an "overweight" rating and issued a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. Bank of America increased their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Jefferies Financial Group boosted their price target on Intuit from $770.00 to $790.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. BMO Capital Markets upped their price objective on Intuit from $700.00 to $760.00 and gave the company an "outperform" rating in a research note on Friday, August 23rd. Finally, StockNews.com upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $735.71.

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.