AKO Capital LLP Grows Stake in Intuit Inc. (NASDAQ:INTU)

AKO Capital LLP increased its holdings in Intuit Inc. (NASDAQ:INTU) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 594,479 shares of the software maker’s stock after buying an additional 45,603 shares during the period. Intuit comprises approximately 5.2% of AKO Capital LLP’s investment portfolio, making the stock its 8th biggest holding. AKO Capital LLP owned about 0.21% of Intuit worth $373,630,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Intuit in the fourth quarter worth $2,290,419,000. Proficio Capital Partners LLC increased its position in Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Intuit in the fourth quarter valued at about $300,854,000. Vanguard Group Inc. grew its stake in shares of Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after acquiring an additional 353,185 shares during the last quarter. Finally, Holocene Advisors LP raised its position in shares of Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Redburn Atlantic began coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a report on Wednesday, February 26th. Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Insider Activity at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. This represents a 67.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,896 shares of company stock worth $82,946,716. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.6 %

INTU stock opened at $614.86 on Thursday. The stock has a market cap of $171.89 billion, a price-to-earnings ratio of 59.70, a PEG ratio of 2.85 and a beta of 1.27. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average is $595.84 and its 200 day moving average is $622.71. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

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.