Intuit Inc. (NASDAQ:INTU) Holdings Trimmed by AQR Capital Management LLC

AQR Capital Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 22.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,444 shares of the software maker’s stock after selling 6,079 shares during the quarter. AQR Capital Management LLC’s holdings in Intuit were worth $10,957,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Stansberry Asset Management LLC bought a new position in Intuit during the third quarter valued at about $3,459,000. SRS Capital Advisors Inc. boosted its stake in Intuit by 132.1% during the third quarter. SRS Capital Advisors Inc. now owns 1,829 shares of the software maker’s stock valued at $934,000 after buying an additional 1,041 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Intuit by 20.2% during the third quarter. Lazard Asset Management LLC now owns 195,614 shares of the software maker’s stock valued at $99,945,000 after buying an additional 32,830 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Intuit by 15.6% during the third quarter. Jones Financial Companies Lllp now owns 289 shares of the software maker’s stock valued at $148,000 after purchasing an additional 39 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Intuit by 24.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 126,944 shares of the software maker’s stock valued at $64,861,000 after purchasing an additional 24,720 shares during the last quarter. Institutional investors own 82.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on INTU. Citigroup upped their target price on Intuit from $565.00 to $651.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Oppenheimer upped their target price on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. upped their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Morgan Stanley upped their target price on Intuit from $525.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, November 29th. Finally, Mizuho upped their target price on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.29.

Get Our Latest Stock Analysis on Intuit

Intuit Stock Performance

Shares of INTU stock opened at $651.73 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a fifty-two week low of $384.05 and a fifty-two week high of $671.01. The stock’s 50-day moving average is $636.18 and its two-hundred day moving average is $576.83. The firm has a market cap of $182.48 billion, a P/E ratio of 66.50, a PEG ratio of 3.96 and a beta of 1.22.

Intuit (NASDAQ:INTUGet Free Report) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 EPS. Analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s dividend payout ratio is 36.73%.

Insider Activity

In other news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,611 shares of company stock valued at $21,505,271. Insiders own 2.90% of the company’s stock.

Intuit Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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