Intuit Inc. (NASDAQ:INTU) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 83.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 590,085 shares of the software maker’s stock after acquiring an additional 268,060 shares during the quarter. Nordea Investment Management AB owned about 0.21% of Intuit worth $371,984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of INTU. Fairway Wealth LLC purchased a new stake in shares of Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new position in Intuit during the third quarter valued at about $27,000. Denver PWM LLC bought a new stake in shares of Intuit during the 3rd quarter worth about $32,000. Dunhill Financial LLC raised its stake in shares of Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after acquiring an additional 32 shares in the last quarter. Finally, Trifecta Capital Advisors LLC lifted its holdings in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Scotiabank started coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Piper Sandler cut their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Barclays lowered their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Stifel Nicolaus cut their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Up 1.2 %

Shares of INTU opened at $630.23 on Monday. The company has a market capitalization of $176.41 billion, a P/E ratio of 61.19, a PEG ratio of 3.24 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The business’s 50 day simple moving average is $649.04 and its 200-day simple moving average is $638.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 262,814 shares of company stock worth $170,119,823 in the last quarter. Insiders own 2.68% of the company’s stock.

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.