Los Angeles Capital Management LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Los Angeles Capital Management LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 28.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,261 shares of the software maker’s stock after buying an additional 32,748 shares during the period. Los Angeles Capital Management LLC owned approximately 0.05% of Intuit worth $93,293,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INTU. Natixis Advisors L.P. lifted its position in Intuit by 3.5% during the 4th quarter. Natixis Advisors L.P. now owns 298,939 shares of the software maker’s stock worth $186,846,000 after acquiring an additional 10,181 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Intuit by 7.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 63,162 shares of the software maker’s stock worth $39,479,000 after purchasing an additional 4,557 shares during the period. Fisher Asset Management LLC boosted its position in Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock valued at $1,946,943,000 after buying an additional 270,414 shares during the last quarter. FFT Wealth Management LLC boosted its position in Intuit by 2.9% in the fourth quarter. FFT Wealth Management LLC now owns 699 shares of the software maker’s stock valued at $437,000 after buying an additional 20 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its holdings in Intuit by 16.7% in the 4th quarter. First Trust Direct Indexing L.P. now owns 6,429 shares of the software maker’s stock worth $4,019,000 after buying an additional 919 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Up 0.2 %

Intuit stock traded up $1.16 during midday trading on Thursday, hitting $616.36. 501,624 shares of the stock were exchanged, compared to its average volume of 1,236,663. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $172.58 billion, a price-to-earnings ratio of 62.86, a PEG ratio of 3.81 and a beta of 1.22. The stock’s 50-day simple moving average is $639.05 and its 200 day simple moving average is $605.00. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. On average, equities analysts anticipate that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.58%. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

Analyst Ratings Changes

Several research firms have recently commented on INTU. Piper Sandler upped their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Evercore ISI increased their price target on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Stifel Nicolaus boosted their price objective on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price target on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $650.23.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 over the last 90 days. 2.90% of the stock is 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.