Swiss National Bank Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Swiss National Bank boosted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 829,700 shares of the software maker's stock after buying an additional 800 shares during the period. Swiss National Bank owned approximately 0.30% of Intuit worth $515,244,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker's stock valued at $382,000 after buying an additional 16 shares during the last quarter. WASHINGTON TRUST Co boosted its stake in Intuit by 10.5% during the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker's stock valued at $110,000 after purchasing an additional 16 shares during the last quarter. Gemmer Asset Management LLC boosted its stake in Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker's stock valued at $294,000 after purchasing an additional 16 shares during the last quarter. PFG Investments LLC increased its holdings in Intuit by 1.1% during the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker's stock worth $1,024,000 after purchasing an additional 17 shares in the last quarter. Finally, Plancorp LLC raised its stake in shares of Intuit by 2.0% in the second quarter. Plancorp LLC now owns 881 shares of the software maker's stock worth $579,000 after purchasing an additional 17 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on INTU shares. Barclays upped their price target on Intuit from $740.00 to $800.00 and gave the stock an "overweight" rating in a report on Friday. Piper Sandler reiterated an "overweight" rating and issued a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. JPMorgan Chase & Co. raised their price target on shares of Intuit from $585.00 to $600.00 and gave the company a "neutral" rating in a research report on Friday, August 23rd. Morgan Stanley downgraded shares of Intuit from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $739.24.

Intuit Stock Performance

Shares of INTU stock traded down $12.89 on Friday, hitting $687.87. 1,799,379 shares of the stock were exchanged, compared to its average volume of 1,417,747. The firm's 50 day moving average is $633.08 and its two-hundred day moving average is $630.19. Intuit Inc. has a one year low of $552.68 and a one year high of $714.78. The firm has a market capitalization of $192.80 billion, a PE ratio of 65.82, 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.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company's revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. Sell-side analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This is a boost from Intuit's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.60%. Intuit's payout ratio is 39.81%.

Insider Activity at Intuit

In other Intuit news, 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 transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction dated 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 sale, the executive vice president now owns 52,038 shares of the company's stock, valued at approximately $33,427,129.68. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by company insiders.

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.