Orion Portfolio Solutions LLC Acquires 213 Shares of Intuit Inc. (NASDAQ:INTU)

Orion Portfolio Solutions LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 20.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,277 shares of the software maker’s stock after buying an additional 213 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Intuit were worth $689,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Intuit by 1.2% in the 2nd quarter. BlackRock Inc. now owns 23,431,661 shares of the software maker’s stock worth $11,485,499,000 after purchasing an additional 285,308 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Intuit by 0.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 22,645,713 shares of the software maker’s stock worth $11,100,250,000 after buying an additional 59,327 shares in the last quarter. State Street Corp lifted its position in Intuit by 2.3% during the 2nd quarter. State Street Corp now owns 10,863,514 shares of the software maker’s stock worth $5,324,969,000 after buying an additional 242,134 shares in the last quarter. FMR LLC lifted its position in Intuit by 18.9% during the 2nd quarter. FMR LLC now owns 8,015,021 shares of the software maker’s stock worth $3,928,723,000 after buying an additional 1,274,405 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Intuit by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,421,187 shares of the software maker’s stock worth $2,160,720,000 after buying an additional 69,057 shares in the last quarter. 79.97% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Michelle M. Clatterbuck sold 620 shares of the firm’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $691.96, for a total value of $429,015.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Alexander Chriss sold 336 shares of the firm’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $691.96, for a total value of $232,498.56. The disclosure for this sale can be found here. Insiders have sold a total of 51,950 shares of company stock valued at $34,464,008 in the last ninety days. Insiders own 3.27% of the company’s stock.

Shares of INTU opened at $550.79 on Friday. The stock has a market capitalization of $155.97 billion, a P/E ratio of 72.86, a P/E/G ratio of 4.56 and a beta of 1.04. Intuit Inc. has a twelve month low of $359.33 and a twelve month high of $716.86. The company has a 50 day moving average of $634.61 and a 200-day moving average of $577.70. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.21.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 18th. The software maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.56. Intuit had a net margin of 20.28% and a return on equity of 22.39%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the business earned $0.61 earnings per share. The firm’s revenue was up 51.7% on a year-over-year basis. On average, sell-side analysts anticipate that Intuit Inc. will post 7.74 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 10th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.49%. The ex-dividend date is Friday, January 7th. Intuit’s dividend payout ratio is 35.98%.

A number of research analysts have issued reports on INTU shares. Morgan Stanley upped their target price on shares of Intuit from $615.00 to $715.00 and gave the company an “overweight” rating in a research report on Monday, November 15th. Wolfe Research upped their target price on shares of Intuit from $700.00 to $850.00 and gave the company an “outperform” rating in a research report on Friday, November 19th. Piper Sandler upped their target price on shares of Intuit from $621.00 to $770.00 and gave the company an “overweight” rating in a research report on Friday, November 19th. Jefferies Financial Group upped their target price on shares of Intuit from $640.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, November 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Intuit from $700.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, November 19th. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $665.10.

About Intuit

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; Credit Karma; and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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