Andra AP fonden Has $38.25 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Andra AP fonden lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,200 shares of the software maker’s stock after selling 5,700 shares during the period. Intuit comprises 0.6% of Andra AP fonden’s holdings, making the stock its 25th biggest holding. Andra AP fonden’s holdings in Intuit were worth $38,250,000 as of its most recent SEC filing.

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

Intuit Trading Up 1.9 %

INTU opened at $626.99 on Tuesday. The company has a market cap of $175.74 billion, a P/E ratio of 57.84, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. The company has a fifty day moving average price of $637.94 and a two-hundred day moving average price of $632.08. 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 Inc. has a 1-year low of $473.56 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts predict that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.66%. Intuit’s dividend payout ratio is presently 33.21%.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Stifel Nicolaus increased their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. UBS Group lifted their target price on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $768.00 price target (up previously from $760.00) on shares of Intuit in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $720.37.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the sale, the insider now directly owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 27,309 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the transaction, the insider now directly owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,308 shares of company stock valued at $25,070,676. Corporate insiders own 2.90% 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.