MetLife Investment Management LLC Sells 2,209 Shares of Intuit Inc. (NASDAQ:INTU)

MetLife Investment Management LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,015 shares of the software maker’s stock after selling 2,209 shares during the quarter. MetLife Investment Management LLC’s holdings in Intuit were worth $52,794,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC grew its stake in Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after buying an additional 107,482 shares during the last quarter. Legal & General Group Plc raised its position in Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after purchasing an additional 23,995 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Intuit by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after purchasing an additional 26,914 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Intuit by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after buying an additional 56,370 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,265 shares of company stock worth $35,200,125. Corporate insiders own 2.90% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU traded down $1.76 during trading hours on Wednesday, hitting $637.07. 83,702 shares of the company’s stock traded hands, compared to its average volume of 1,360,673. The business’s fifty day simple moving average is $634.46 and its two-hundred day simple moving average is $631.29. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $178.41 billion, a P/E ratio of 62.02, a P/E/G ratio of 3.14 and a beta of 1.25. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. Intuit’s dividend payout ratio is currently 40.39%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler reduced their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. BMO Capital Markets raised their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $737.44.

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.