KBC Group NV Has $117.93 Million Stake in Intuit Inc. (NASDAQ:INTU)

KBC Group NV lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,903 shares of the software maker’s stock after buying an additional 10,851 shares during the period. KBC Group NV’s holdings in Intuit were worth $117,930,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of INTU. Huntington National Bank grew its position in shares of Intuit by 0.9% in the 3rd quarter. Huntington National Bank now owns 17,813 shares of the software maker’s stock valued at $11,062,000 after acquiring an additional 165 shares during the period. Bouvel Investment Partners LLC raised its stake in Intuit by 0.5% in the 3rd quarter. Bouvel Investment Partners LLC now owns 9,683 shares of the software maker’s stock valued at $6,013,000 after acquiring an additional 49 shares during the period. ROI Financial Advisors LLC lifted its holdings in Intuit by 8.4% during the 3rd quarter. ROI Financial Advisors LLC now owns 2,699 shares of the software maker’s stock valued at $1,676,000 after purchasing an additional 208 shares during the last quarter. Plato Investment Management Ltd boosted its position in Intuit by 6.9% during the third quarter. Plato Investment Management Ltd now owns 9,757 shares of the software maker’s stock worth $6,053,000 after purchasing an additional 628 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd increased its holdings in shares of Intuit by 18.9% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 3,649 shares of the software maker’s stock valued at $2,266,000 after purchasing an additional 579 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. 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, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 in the last quarter. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on INTU. Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and set a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. Jefferies Financial Group boosted their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Barclays dropped their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Performance

NASDAQ:INTU opened at $706.25 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $197.95 billion, a PE ratio of 67.58, a price-to-earnings-growth ratio of 3.42 and a beta of 1.25. Intuit Inc. has a twelve month low of $541.40 and a twelve month high of $714.78. The stock’s 50-day simple moving average is $628.37 and its 200 day simple moving average is $628.67.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. On average, analysts anticipate that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.59%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 39.81%.

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.