Intuit Inc. (NASDAQ:INTU) Stake Lowered by Lindsell Train Ltd

Lindsell Train Ltd decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 16.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 769,617 shares of the software maker’s stock after selling 146,574 shares during the quarter. Intuit comprises approximately 12.1% of Lindsell Train Ltd’s investment portfolio, making the stock its 5th largest holding. Lindsell Train Ltd’s holdings in Intuit were worth $483,704,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC lifted its stake in Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after buying an additional 80,463 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after acquiring an additional 23,995 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intuit by 4.0% during the third 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 worth $1,428,790,000 after acquiring an additional 87,517 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on INTU shares. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Piper Sandler restated an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Performance

NASDAQ INTU opened at $598.30 on Friday. The business has a 50 day moving average price of $640.53 and a 200 day moving average price of $635.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $167.48 billion, a P/E ratio of 58.09, a PEG ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. Sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.70%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the sale, the chief executive officer now directly owns 37,869 shares in the company, valued at $23,701,828.41. This represents a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last quarter. 2.68% of the stock is currently owned by company insiders.

About Intuit

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.