LGT Capital Partners LTD. Has $97.32 Million Position in Intuit Inc. (NASDAQ:INTU)

LGT Capital Partners LTD. raised its position in shares of Intuit Inc. (NASDAQ:INTUGet Rating) by 30.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,395 shares of the software maker’s stock after purchasing an additional 47,569 shares during the quarter. Intuit accounts for 2.8% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 13th biggest holding. LGT Capital Partners LTD.’s holdings in Intuit were worth $97,320,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INTU. Nicholas Hoffman & Company LLC. increased its stake in shares of Intuit by 933,957.5% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 3,801,614 shares of the software maker’s stock worth $2,445,274,000 after acquiring an additional 3,801,207 shares during the last quarter. Norges Bank acquired a new position in shares of Intuit in the fourth quarter worth $1,492,441,000. BlackRock Inc. increased its stake in shares of Intuit by 7.1% in the fourth quarter. BlackRock Inc. now owns 25,129,120 shares of the software maker’s stock worth $16,163,554,000 after acquiring an additional 1,664,393 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Intuit by 1,157.4% in the fourth quarter. Fisher Asset Management LLC now owns 1,203,273 shares of the software maker’s stock worth $773,970,000 after acquiring an additional 1,107,581 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Intuit by 6.0% in the fourth quarter. State Street Corp now owns 11,529,236 shares of the software maker’s stock worth $7,415,835,000 after acquiring an additional 652,399 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Intuit from $750.00 to $640.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Evercore ISI lowered their target price on shares of Intuit from $720.00 to $645.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. Edward Jones raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Friday, March 11th. Wells Fargo & Company lowered their target price on shares of Intuit from $635.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 25th. Finally, StockNews.com assumed coverage on shares of Intuit in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $562.56.

NASDAQ INTU opened at $383.54 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a 50-day simple moving average of $403.73 and a 200 day simple moving average of $491.08. Intuit Inc. has a twelve month low of $339.36 and a twelve month high of $716.86. The stock has a market cap of $108.19 billion, a PE ratio of 43.18, a PEG ratio of 2.93 and a beta of 1.15.

Intuit (NASDAQ:INTUGet Rating) last released its earnings results on Tuesday, May 24th. The software maker reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.58 by $0.07. Intuit had a net margin of 19.44% and a return on equity of 20.77%. The business had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company earned $5.45 earnings per share. The firm’s revenue was up 35.0% on a year-over-year basis. Research analysts forecast that Intuit Inc. will post 8.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 18th. Investors of record on Monday, July 11th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, July 8th. Intuit’s payout ratio is presently 30.84%.

In related news, EVP James Alexander Chriss sold 984 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $386.29, for a total value of $380,109.36. Following the completion of the sale, the executive vice president now owns 343 shares in the company, valued at $132,497.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.27% of the stock is currently owned by company insiders.

Intuit Company Profile (Get Rating)

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 ProConnect.

Further Reading

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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