abrdn plc Increases Holdings in Intuit Inc. (NASDAQ:INTU)

abrdn plc lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 30.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,214 shares of the software maker’s stock after buying an additional 59,658 shares during the period. abrdn plc owned about 0.09% of Intuit worth $160,141,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Intuit by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after acquiring an additional 117,478 shares during the last quarter. State Street Corp grew its position in Intuit by 1.9% during the 1st quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock worth $4,948,558,000 after acquiring an additional 210,246 shares during the last quarter. FMR LLC grew its position in Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after acquiring an additional 266,803 shares during the last quarter. Morgan Stanley grew its position in Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after acquiring an additional 137,198 shares during the last quarter. Finally, Northern Trust Corp grew its position in Intuit by 5.2% during the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock worth $1,641,533,000 after acquiring an additional 160,229 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Down 0.5 %

Shares of INTU stock traded down $3.21 during mid-day trading on Friday, hitting $605.17. The company’s stock had a trading volume of 1,609,082 shares, compared to its average volume of 1,128,744. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The business has a 50-day moving average price of $642.93 and a 200 day moving average price of $599.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market cap of $169.45 billion, a price-to-earnings ratio of 61.75, a PEG ratio of 3.70 and a beta of 1.21.

Intuit (NASDAQ:INTU) last posted its quarterly 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. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. Research analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is 36.73%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Mizuho raised their price target on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Barclays lifted their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Oppenheimer lifted their price objective on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $645.00.

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.