LGT Capital Partners LTD. Has $106.11 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

LGT Capital Partners LTD. cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 14.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,866 shares of the software maker’s stock after selling 29,059 shares during the quarter. Intuit accounts for 3.7% of LGT Capital Partners LTD.’s portfolio, making the stock its 8th biggest holding. LGT Capital Partners LTD. owned approximately 0.06% of Intuit worth $106,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. LGT Financial Advisors LLC bought a new position in Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the 2nd quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit during the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter valued at about $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 1.3 %

INTU opened at $678.81 on Tuesday. The company has a market cap of $190.26 billion, a P/E ratio of 64.96, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $634.11 and its 200-day moving average price is $630.65. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business posted $0.40 EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INTU has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Piper Sandler reissued an “overweight” rating and issued a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $737.06.

Intuit 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.