LGT Capital Partners LTD. Sells 79,450 Shares of Intuit Inc. (NASDAQ:INTU)

LGT Capital Partners LTD. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 46.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,416 shares of the software maker’s stock after selling 79,450 shares during the quarter. Intuit accounts for 2.2% of LGT Capital Partners LTD.’s portfolio, making the stock its 17th largest position. LGT Capital Partners LTD.’s holdings in Intuit were worth $57,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in Intuit in the 4th quarter valued at $3,217,000. Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in Intuit by 0.3% during the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 30,954 shares of the software maker’s stock worth $19,455,000 after buying an additional 87 shares in the last quarter. United Community Bank lifted its position in Intuit by 6.0% during the 4th quarter. United Community Bank now owns 355 shares of the software maker’s stock worth $223,000 after buying an additional 20 shares in the last quarter. Personal CFO Solutions LLC lifted its position in Intuit by 56.1% during the 4th quarter. Personal CFO Solutions LLC now owns 2,948 shares of the software maker’s stock worth $1,853,000 after buying an additional 1,059 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its position in Intuit by 13.1% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,834 shares of the software maker’s stock worth $1,781,000 after buying an additional 329 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the transaction, the executive vice president now owns 33,916 shares in the company, valued at $22,304,518.24. This represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,811 shares of company stock worth $142,391,012. Insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Citigroup cut their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Intuit Stock Up 0.5 %

Shares of INTU opened at $609.61 on Friday. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The firm has a market cap of $170.42 billion, a P/E ratio of 59.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The firm’s 50-day simple moving average is $602.28 and its 200 day simple moving average is $625.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

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.