Intuit Inc. (NASDAQ:INTU) Holdings Raised by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,001 shares of the software maker’s stock after purchasing an additional 1,414 shares during the quarter. Mizuho Securities USA LLC’s holdings in Intuit were worth $14,284,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in INTU. Legal & General Group Plc boosted its holdings in shares of 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 buying an additional 23,995 shares during the period. Ameriprise Financial Inc. boosted its stake in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Intuit by 4.2% during 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 purchasing an additional 56,370 shares during the last quarter. Capital World Investors raised its position in shares of Intuit by 1.0% during the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after purchasing an additional 12,068 shares during the period. Finally, Unisphere Establishment lifted its holdings in shares of Intuit by 4.2% in the 2nd quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker’s stock worth $657,210,000 after purchasing an additional 40,000 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INTU. Barclays increased their target price on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group boosted their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $739.24.

Insider Activity

In related news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the firm’s 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 $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last 90 days. 2.90% of the stock is owned by company insiders.

Intuit Trading Down 1.8 %

Intuit stock opened at $687.87 on Friday. Intuit Inc. has a 1 year low of $552.68 and a 1 year high of $714.78. The firm’s 50 day moving average price is $633.08 and its two-hundred day moving average price is $630.09. The firm has a market cap of $192.80 billion, a price-to-earnings ratio of 65.82, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the firm posted $0.40 EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. On average, research analysts predict that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is 39.81%.

Intuit Company 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.