M&G Plc Buys 1,542 Shares of Intuit Inc. (NASDAQ:INTU)

M&G Plc grew its stake in Intuit Inc. (NASDAQ:INTU) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,648 shares of the software maker’s stock after buying an additional 1,542 shares during the quarter. M&G Plc’s holdings in Intuit were worth $24,078,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Intuit in the 4th quarter worth approximately $2,101,848,000. Wellington Management Group LLP lifted its holdings in shares of Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after buying an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC purchased a new position in Intuit during the fourth quarter valued at $467,852,000. Parnassus Investments LLC grew its stake in Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Finally, Capital World Investors increased its holdings in Intuit by 54.7% in the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock valued at $735,480,000 after acquiring an additional 416,099 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the sale, the executive vice president now owns 869 shares in the company, valued at approximately $525,380.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,963 shares of company stock worth $114,442,445. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of research analyst reports. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $750.00 to $685.00 in a research report on Wednesday. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Wells Fargo & Company upped their price target on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Susquehanna reduced their price objective on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. Finally, Jefferies Financial Group restated a “buy” rating and set a $770.00 target price on shares of Intuit in a research report on Thursday, June 13th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $691.77.

Intuit Stock Up 2.9 %

NASDAQ:INTU opened at $645.83 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The company has a 50-day moving average of $627.44 and a 200 day moving average of $633.63. The firm has a market cap of $180.54 billion, a PE ratio of 59.58, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $7.80 earnings per share. As a group, research analysts anticipate that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.56%. Intuit’s payout ratio is 33.21%.

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.