Intuit Inc. (NASDAQ:INTU) Stock Position Increased by GAM Holding AG

GAM Holding AG grew its position in Intuit Inc. (NASDAQ:INTU) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,436 shares of the software maker’s stock after purchasing an additional 1,996 shares during the period. GAM Holding AG’s holdings in Intuit were worth $10,828,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. LGT Financial Advisors LLC bought a new position in Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC bought a new position in shares of Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit during the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

INTU stock opened at $609.59 on Wednesday. The company has a market capitalization of $170.41 billion, a price-to-earnings ratio of 56.24, a P/E/G ratio of 3.04 and a beta of 1.24. The firm has a 50 day moving average of $629.40 and a two-hundred day moving average of $627.34. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio is currently 38.38%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Barclays cut their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Activity at Intuit

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. 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 insiders.

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.