Lincoln National Corp Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Lincoln National Corp boosted its stake in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,257 shares of the software maker’s stock after buying an additional 160 shares during the quarter. Lincoln National Corp’s holdings in Intuit were worth $874,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of INTU. Victory Capital Management Inc. boosted its stake in shares of Intuit by 35.5% in the third quarter. Victory Capital Management Inc. now owns 269,085 shares of the software maker’s stock valued at $104,222,000 after purchasing an additional 70,425 shares during the period. PDT Partners LLC acquired a new stake in Intuit in the second quarter valued at approximately $2,049,000. Montag & Caldwell LLC acquired a new stake in Intuit in the second quarter valued at approximately $8,039,000. Bridges Investment Management Inc. raised its holdings in Intuit by 1.3% in the third quarter. Bridges Investment Management Inc. now owns 3,410 shares of the software maker’s stock valued at $1,321,000 after acquiring an additional 44 shares in the last quarter. Finally, AE Wealth Management LLC raised its holdings in Intuit by 34.9% in the second quarter. AE Wealth Management LLC now owns 15,234 shares of the software maker’s stock valued at $5,872,000 after acquiring an additional 3,938 shares in the last quarter. Hedge funds and other institutional investors own 82.65% of the company’s stock.

Insider Transactions at Intuit

In other news, EVP James Alexander Chriss sold 597 shares of Intuit stock in a transaction on Monday, January 9th. The stock was sold at an average price of $400.00, for a total transaction of $238,800.00. Following the completion of the transaction, the executive vice president now owns 344 shares of the company’s stock, valued at approximately $137,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Lauren D. Hotz sold 400 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $416.01, for a total value of $166,404.00. Following the completion of the transaction, the chief accounting officer now owns 2,067 shares of the company’s stock, valued at approximately $859,892.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Alexander Chriss sold 597 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the completion of the transaction, the executive vice president now directly owns 344 shares of the company’s stock, valued at approximately $137,600. The disclosure for this sale can be found here. Insiders sold 3,086 shares of company stock valued at $1,258,434 in the last 90 days. 3.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Intuit in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler cut their price objective on shares of Intuit from $553.00 to $459.00 and set an “overweight” rating on the stock in a report on Wednesday, November 30th. Evercore ISI cut their price objective on shares of Intuit from $601.00 to $505.00 in a report on Friday, September 30th. BMO Capital Markets cut their price objective on shares of Intuit from $467.00 to $448.00 in a report on Wednesday, November 30th. Finally, Wells Fargo & Company cut their price objective on shares of Intuit from $525.00 to $475.00 and set an “overweight” rating on the stock in a report on Wednesday, November 30th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $499.21.

Intuit Price Performance

Shares of NASDAQ INTU opened at $401.55 on Wednesday. The firm has a market capitalization of $112.80 billion, a P/E ratio of 61.12, a PEG ratio of 3.08 and a beta of 1.15. Intuit Inc. has a one year low of $339.36 and a one year high of $579.96. The company’s fifty day moving average is $392.80 and its two-hundred day moving average is $411.89. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.37 and a current ratio of 1.37.

Intuit (NASDAQ:INTU – Get Rating) last issued its earnings results on Tuesday, November 29th. The software maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.08 by $0.49. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Intuit had a net margin of 14.10% and a return on equity of 14.31%. Analysts forecast that Intuit Inc. will post 8.99 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 18th. Stockholders of record on Tuesday, January 10th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Monday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 47.49%.

Intuit Company Profile

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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.