Intuit Inc. (NASDAQ:INTU) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 20.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,277 shares of the software maker’s stock after acquiring an additional 213 shares during the period. Orion Portfolio Solutions LLC’s holdings in Intuit were worth $689,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Intuit by 1.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,874,499 shares of the software maker’s stock worth $1,550,821,000 after acquiring an additional 51,734 shares during the period. Sumitomo Mitsui Financial Group Inc. grew its position in shares of Intuit by 10.3% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 22,011 shares of the software maker’s stock valued at $11,875,000 after purchasing an additional 2,047 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Intuit during the third quarter valued at approximately $9,454,000. Glassman Wealth Services lifted its stake in shares of Intuit by 11.7% during the third quarter. Glassman Wealth Services now owns 230 shares of the software maker’s stock valued at $124,000 after buying an additional 24 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in Intuit by 83.9% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 253,231 shares of the software maker’s stock worth $136,621,000 after purchasing an additional 115,517 shares during the period. 79.97% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on INTU shares. The Goldman Sachs Group raised shares of Intuit from a “neutral” rating to a “buy” rating and raised their target price for the company from $535.00 to $840.00 in a research note on Friday, November 19th. Oppenheimer raised their target price on shares of Intuit from $584.00 to $696.00 and gave the company an “outperform” rating in a research note on Friday, November 19th. Piper Sandler raised their target price on shares of Intuit from $621.00 to $770.00 and gave the company an “overweight” rating in a research note on Friday, November 19th. Wolfe Research raised their price target on shares of Intuit from $700.00 to $850.00 and gave the company an “outperform” rating in a report on Friday, November 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Intuit from $700.00 to $780.00 and gave the company a “buy” rating in a report on Friday, November 19th. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $665.10.

Shares of NASDAQ:INTU opened at $550.79 on Friday. The company has a market cap of $155.97 billion, a PE ratio of 72.86, a P/E/G ratio of 4.56 and a beta of 1.04. The company’s 50-day moving average price is $634.61 and its 200 day moving average price is $577.70. Intuit Inc. has a fifty-two week low of $359.33 and a fifty-two week high of $716.86. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.21.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 18th. The software maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.56. Intuit had a net margin of 20.28% and a return on equity of 22.39%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm earned $0.61 EPS. Intuit’s revenue was up 51.7% on a year-over-year basis. As a group, equities analysts anticipate that Intuit Inc. will post 7.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 10th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, January 7th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.49%. Intuit’s dividend payout ratio (DPR) is 35.98%.

In other news, CEO Sasan K. Goodarzi sold 35,994 shares of Intuit stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $685.96, for a total value of $24,690,444.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 15,000 shares of Intuit stock in a transaction that occurred on Wednesday, January 5th. The stock was sold at an average price of $607.47, for a total transaction of $9,112,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,950 shares of company stock worth $34,464,008 over the last 90 days. 3.27% of the stock is owned by insiders.

About Intuit

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; Credit Karma; and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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