Intuit Inc. (NASDAQ:INTU) Shares Bought by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,337 shares of the software maker’s stock after purchasing an additional 997 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Intuit were worth $3,983,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after acquiring an additional 80,463 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after acquiring an additional 107,482 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 valued at $1,499,744,000 after acquiring an additional 88,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after acquiring an additional 87,517 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $613.84 on Monday. The company has a fifty day simple moving average of $605.90 and a two-hundred day simple moving average of $627.05. The company has a market cap of $171.82 billion, a price-to-earnings ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on INTU shares. BMO Capital Markets lowered their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Citigroup lowered 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. Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Scotiabank reduced their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $717.88.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock worth $140,855,687 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

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.