Intuit Inc. (NASDAQ:INTU) Shares Bought by Plato Investment Management Ltd

Plato Investment Management Ltd increased its stake in Intuit Inc. (NASDAQ:INTU) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,757 shares of the software maker’s stock after acquiring an additional 628 shares during the period. Plato Investment Management Ltd’s holdings in Intuit were worth $6,053,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC purchased a new stake in shares of Intuit during the 2nd quarter valued at $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the second quarter valued at $26,000. Fairway Wealth LLC purchased a new stake in Intuit during the second quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit during the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Intuit in the 2nd quarter worth about $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Up 1.0 %

NASDAQ INTU opened at $706.25 on Thursday. The company has a market capitalization of $197.95 billion, a price-to-earnings ratio of 67.58, a price-to-earnings-growth ratio of 3.42 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 12 month low of $541.40 and a 12 month high of $714.78. The company’s fifty day moving average price is $628.37 and its two-hundred day moving average price is $628.67.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate 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 net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 earnings per share. As a group, research 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. Stockholders of record on Thursday, October 10th were given a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.59%. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INTU. JPMorgan Chase & Co. lifted 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 lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. BMO Capital Markets increased their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Barclays cut their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $735.71.

Insider Activity

In related news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the firm’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 transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by insiders.

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.