Gulf International Bank UK Ltd Has $13.64 Million Stake in Intuit Inc. (NASDAQ:INTU)

Gulf International Bank UK Ltd cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 26.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,963 shares of the software maker’s stock after selling 7,973 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Intuit were worth $13,639,000 as of its most recent SEC filing.

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

Intuit Price Performance

Intuit stock opened at $619.01 on Tuesday. The firm has a market capitalization of $173.50 billion, a PE ratio of 59.24, a price-to-earnings-growth ratio of 3.04 and a beta of 1.25. Intuit Inc. has a 12-month low of $494.35 and a 12-month high of $676.62. The firm has a 50-day moving average price of $622.95 and a 200-day moving average price of $626.71. 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 (NASDAQ:INTU) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities research analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.67%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s payout ratio is 39.81%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Stifel Nicolaus upped their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $735.71.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last three months. Corporate insiders own 2.90% of the company’s stock.

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.