Mizuho Securities USA LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Mizuho Securities USA LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,001 shares of the software maker’s stock after purchasing an additional 1,414 shares during the quarter. Mizuho Securities USA LLC’s holdings in Intuit were worth $14,284,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Kingsview Wealth Management LLC grew its stake in Intuit by 6.5% in the 1st quarter. Kingsview Wealth Management LLC now owns 1,222 shares of the software maker’s stock valued at $795,000 after acquiring an additional 75 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after purchasing an additional 2,641 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Intuit by 62.3% during the 1st quarter. Acadian Asset Management LLC now owns 16,327 shares of the software maker’s stock worth $10,606,000 after purchasing an additional 6,266 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in shares of Intuit during the 1st quarter worth approximately $1,075,000. Finally, Edgestream Partners L.P. raised its position in shares of Intuit by 72.2% during the 1st quarter. Edgestream Partners L.P. now owns 4,106 shares of the software maker’s stock worth $2,669,000 after purchasing an additional 1,722 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INTU. Piper Sandler reiterated an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Bank of America boosted their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Barclays upped their price objective on shares of Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.24.

Intuit Stock Performance

NASDAQ:INTU opened at $687.87 on Friday. The firm’s fifty day simple moving average is $633.08 and its 200 day simple moving average is $630.09. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a twelve month low of $552.68 and a twelve month high of $714.78. The firm has a market capitalization of $192.80 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 3.36 and a beta of 1.25.

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

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.60%. Intuit’s dividend payout ratio is 39.81%.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

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.